From Dad’s Army:
Tens of thousands of retirees will lose their pensions while others will get a bit extra each week under controversial new rules on asset ownership.
Legislation to tighten the pension asset test passed the Senate on Monday night, hours after it cleared the House of Representatives.
The Australian Greens backed the bill – which cuts payments for pensioner couples who own $823,000 in assets outside their family home – after shaking hands with the government on a deal last week.
The measures will reduce pension cheques for 235,756 seniors, cut 91,378 people from the part-pension and give 171,658 retirees about $15 a week extra.
Greens leader Richard Di Natale said he was surprised the measures were so controversial and had failed to attract support from Labor.
And why did The Greens support the bill? Ask them:
That’s right, dear reader, because of you.
