My bush property is too big for me to get the pension. What can I do?

My property is 120 acres; 115 acres of that is totally useless for anything except for the bush, trees and the wildlife it supports. This is fine by me. The problem is that I am unable to get the pension because of the size of the land, even though I am eligible in every other way. Things are financially difficult right now, and the pension would help tremendously. I have lived here for 18 years.

It might be worth booking an appointment with a Centrelink Financial Information Service Officer in your region, as they will be familiar with the options available to you. If, after all these costs, the net yield was, say, 3 per cent – being generous – then your total return is 4 per cent , which is less than you would earn parking your savings in a risk-free term deposit with a bank.Factor in vacancy periods between tenants, and the inevitable kitchen or bathroom refresh at some point in your ownership period – and perhaps a new hot-water unit or air-conditioner – and you may make no money at all.

Both children are in their 30s, grown up and not financially dependent on me. I was told that because they are no longer dependent, they will not on my death be accepted by my super fund in my Binding Nomination. Is this correct?

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