$700k worth of savings tips from the government

Unfortunately this had to come. There are quite a large number of people who have a million dollar home, but no cash. In 10 years the total number of pensioners could double and fewer workers who pay tax. I can see that a government, not necessarily this one, will change the rules. I only hope that the level at which stage the house is counting in the asset test is not set too low. Homes with a higher value can also take out a reverse mortgage. We should not forget, we do not owe our children anything. 

You can't eat the house you live in. You have a house worth $600.000. So you downsize to a smaller house and then you are means tested on whatever cash is left. Seems to me you can't win either way. If the government wants to save money get rid of the paid parental leave. People make choices about having children and I can't say I want my tax dollar supporting people who choose to have a child. Do what the rest of us do. Save your money and when you can afford to have a child, have one. No one gave me anything with my three kids. Wake up Australia, we are on a slippery road. 

my husband and i have lived in this our family home for 30 odd years. the value at this time was about $40,000.00. now with inflation and market trends it's close to $1m. it doesn't seem right if our home is to be assessed at current market value. we are living fairly simply and we didn't have the benefit of a politicians pension. i agree with john from nsw that maybe the government could save money by cutting benefits for politicians. 

Re Australia Post charging for mail delivery. I thought that's why we put stamps on our correspondence.!!! Also letters may be declining but I know that parcels (which cost a lot more to post)are increasing rapidly. So my heart bleeds for Auspost. 

This Tony Shepherd is out of touch with the average retirees or maybe he thinks that because he has a big retirement package heading his way and thinks that everyone else has as well????, maybe he should look at the waste of money projects of the present and past governments both state and federal have one the go at the moment, like free travel, free car hire, electoral allowances, heaps of money to the boat people etc. But no lets hit the elderly instead, What a joke you are Mr. Shepherd 

nick from nsw why not pay our parents bills,they paid our bills while we where growing up. 

Those wealthy people given the task to find solutions for governments should also be told what is on the table that CANNOT be considered. One of these would definitely be the family home. There needs to be a bipartisan list so they keep politics out of the essentials. 

What are people who obviously have no idea of what terror this puts into aged pensioners thinking? Oh obviously not thinking. My grandfather and father fought long and hard for the welfare of the elderly. One at grassroots level and one fighting for our country and the quality of life we have and mostly for fairness and justice. Where is it? We do the right thing work hard (oh and many Australians didn't have the safe guard of super, so some of us retired on very little, We don't have a family home but the government had better not dare put that burden on the aged. Find another way to budget our money. 

Outrageous! Older people are not encouraged to downsize although they may wish to - stamp duty exemption is needed to encourage 'empty nesters' into smaller dwellings. 

Not on,what if all the family are on social security? Who pays it then? The taxpayer who is already paying for their parents?