Teresa

Hi

My parents applied for retirement visa on 410 prior to the deadline of 30th June and now the case officer has said they cannot accept the rental income from their second property as income ????

Any comments please or help as desperate now!!!!!

Teresa

claire edwards

Just trying to find some information for you, be right back.

claire edwards

http://www.immi.gov.au/allforms/pdf/1044i.pdf

Would a rental income fall under capital investment? I don't see why not. Have they explained to you why they haven't accepted it?

Let me know.

Cheers.
Claire

JAJ

You probably need (urgent) professional advice from an agent familiar with the 410 visa. I very much doubt you'll get the information you need from an online forum as the 410 is not a common visa type.



Jeremy

Teresa

Hi

Thanks for replying, they have stated

"Due to the short time that you have owned the rental property and the remaining lease that expires on 01092006 I am not able to accept this item as Income to be Transferred on the Summary of Funds Form."

The rental property has been owned by them for just over a year, this was their 2nd investment property, they owned an apartment prior to that and then upgraded to a 2 bedroom house overlooking the Solent (prime rental and will never be left empty), also as you can see they have a rental agreement with current tenants until next Sept 2006.

This is so frustrating as they have over the capital required and the income at the moment is based on Mum's pension and the investment rental, they also have their own property which is not even counted into the capital or income part. Dad was made redundant in Febuary but does not receive his full pension until next August when he turns 65, they will not take that into account which is fair enough but the others provide more than sufficient income that they request on the forms.............not sure if they are being difficult due to new criteria and also not sure if we can take it further with Australia House, anyone have any experience with that?

JAJ thanks, they will seek professional advice this week, just thought I'd ask for them on here anyway.

claire edwards

Best of luck!

Teresa

Any agents out there, your comments or advice would be very welcome thanks

Teresa

Grayling

Jeremy is (or has been) an agent.

He suggests talking to a professional. He is probably right.

Good luck

G

Teresa

Update.....thank you so much to everyone for replying and to Go Matilda who are as helpful as ever, Dad discussed it with the case officer who he says was extremely helpful in finding a way round, so the case remains open and continues...........they will sell their main residence and keep their investment property to meet the full capital amount and not have to worry about the income side now, which suits them as their house has become too big for the two of them for a while now.

Feel so much better for them as they were so disapppointed and to hear their voices lift again means alot, hit the lowest point since we'd been here knowing that too as my Dad needs this so much after his redundancy from a job of 48 years which he loved so much earlier this year.

Will keep you posted

Teresa x