The current budget is all about intergenerational equality and announced a crackdown on NDIS rort. See how that plays out.
To repair a budget, the biggest line item in the annual govt spend is age pension.
My question is how many pension recipients are stashng wealth in a PPOR to collect a handout? Living in a $4m home asking for the taxpayer to fund their lifestyle while eroding $500k in super. Its a common advice piece.
If its 500,000 accross the country, thats $15b saved.
Bring in an asset test ( no deeming) based on net value (allowing for any debt) which might be $1.3m for Sydney. They can get a reverse mortgage to support their lifestyle and so they arent forced to move.
Edit: Pull back that target. If there is 1% of pensioners in a materially above average value home that would cop a material adjustment to Pension we are taking $1b cost saving. Multiple articles about the EV incentive for the same amount.