Saturday, February 09, 2013

Homeless with $70K

This guy's problem isn't really unemployment - it's mental illness.

If he was able to think straight he'd have worked out that he could buy a small property in rural NZ, claim more in dole payments as a result, and get the taxpayer to pay his mortgage through the accommodation supplement. By 65 it'd be paid off and he'd be collecting Super. Having learned to live off the smell of an oily rag he'd then be able to save and travel on his Super as well as keep his house as his nest egg for "a rainy day."

May as well go down that track because the way he looks after himself - or fails to - he's not going to work again.


Anonymous said...

This guy's problem isn't really mental illness - it's bludgerism.

Living on the street is honourable - much more honourable than taking a benefit for example.

His problem is that he's taking a benefit - I don't care if is assets are in a house, or term deposits or whatever - he simply should not be eligible for a benefit until they are gone, and when they're gone he should not receive a benefit anyway - because no-one in NZ should receive any benefits.

S. Beast said...

He isn't informed enough to know the work around for the benefit system.

I'd advise him to state he intends to use the money to purchase a home to live in (this buys him a year minimum, two years at the discretion of Work and Income where his 70K will not be treated as a cash asset).

If it were me I'd open a GoldMoney account. If the Muppets at the ministry questioned me on it I would explain that it was not a purchase of gold/silver, it was in fact a liquid account where money could be withdrawn at any time to purchase the house I stated I would buy.

Of course, you do technically own the gold and can pick it up from a vault overseas so you get the benefits of predicted returns on metals in the next two years with the liquidity of a regular bank account. I remember the MSD's definition of fraud is not the same as the rest of the country so I reckon worth the risk/reward.

Oh, yeah...and we don't have any capital gains on the value of that stored metal and having money stored like this he'd get around the interest deduction.

You are right of course, the AS would assist him but it would work more in his favour if he had kids (!!).

Possibly he could use sweat equity and build his own home using recycled tyres or something while he is still fit enough to do so or he could renovate an exsisting property that the AS pays for him to live in. Then he could profit from the capital gain (not yet taxed in NZ) if nothing else.

Is the point of the article that he's just a little slow or has no balls? Or are we meant to feel sorry for him eating his noodles?? Hard to tell.

Anonymous said...

I wonder how long it will be before this man is targeted by a criminal element who will extort his life savings from him by violence or other means and he ends up being exactly what he looks like.

Anonymous said...

Sometimes anonymity is better than shooting off the proverbial.

As above as well, Mark Wahlberg

Anonymous said...

He's already a criminal because he's getting a benefit.

Any crims that stand him over are more honourable than he is.

thor42 said...

I think this is mental illness *and* bludgerism.

I bought my current house (my first) with a $40K deposit. Just over half what this guy has.

I agree with anon @11:05 - this guy is **rolling** in money, comparatively-speaking. He *COULD* work *very easily*, but he chooses not to (and lazy old WINZ aid and abet him in this fraud.)