Hello, and thank you for your reply.

@dan, yes several different consultants in the parenting payment section of centrelink told me I could do this last October.

@pat, I hear you! I have spoken to several different people since purchase and the info has changed each time.  I am learning about trusts and property investing, and found that I have so far made 2 of the biggest errors in property, 1 using same bank for more than 1 mortgage and 2 having both properties in my name. Oh well they say you learn from your mistakes.

I found an old post here on property investing : https://www.propertyinvesting.com/forums/property-investing/general-property/7896
It was helpful but confusing.

Centrelink reffered me to this link http://www.humanservices.gov.au/customer/enablers/centrelink/parenting-payment/income-and-assets
The information I had was soooo different that I am now thouroughly bamboozled!

I receive parenting payment single, I was told that apart from PPOR I could have $75,000 in assests. 

The page I have linked above says that I can have assets of $696,250. Go figure. It also states that PPOR is not assessable and that "The value of your assets is what you would get for them if you sold them. Generally, any debt secured against an asset is deducted from the value of that asset." 

My unit (now IP) was valued by the bank at $250,000, I owe 139,000.  My house (now PPOR)  cost $168,000 and I owe$163,000. Bank would not tell me what house was valued at as it was for "bank purposes only".  I have approx. $50,000 in other assets including a few shares, my car and household/personal goods.

I can get an appointment with the Financial Service Information Officer at centrelink, but I will first call legal aid and see what they say.

I love this site, I only wish I had found it before I did anything!

I will keep you posted.

Thanx,
Bevvy