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There is a lack of financial support/advice for veterans being awarded large sums of money for payouts and some are making big mistakes in handling the money.

Urgency:

Low

Veteran Community Needs Affected:

Sufficient Income, Appropriate Compensation, Respect & Recognition

Issue Details

We've seen some veterans awarded large sums with little or no financial advice to best manage it for the long term. Some have made poor decisions and find themselves in more trouble financially.

Likely Cause of the Issue

Lack of appropriate, timely financial advice. There is a limited number of suitable qualified financial advisers aware of the Veteran space to provide competent information based on the relevant Acts and the impact of the changing Veteran environment. 

Possible Solution

Identify an organisation/person (wellbeing advocate) to arrange financial advice. Get funding support to provide it.

Who is likely to be responsible to fix this?

Financial Advice, DVA

All veterans and their families connected with The Oasis Townsville
acknowledge and pay respect
to the past, present and emerging Traditional Custodians and Elders of this nation and also acknowledge those Aboriginal and Torres Strait Islander people who serve and have served in the Australian Defence Force.

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For the benefit of members of the
Veteran Community
in Townsville.

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The Oasis Townsville Limited, a public benevolent institution, is endorsed to access the following tax concessions:

  • Income Tax Exemption under Subdivision 50-B of the Income Tax Assessment Act 1997

  • GST Concessions under Division 176 of 'A New Tax System' (Goods and Services Tax) 1999

  • FBT Exemption under Section 123C of the Fringe Benefits Tax Assessment Act 1986

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