Beneficiary Builds $500 000 property portfolio

http://www.stuff.co.nz/national/2079935/Beneficiary-builds-500-000-property-portfolio

Christchurch company director and owner of three houses Lindsay Ralph Cox was spotted by Sunday News popping into a real estate agency on Thursday and checking out its latest catalogue.
The 64-year-old has been able to build up his own property portfolio while on an invalid's benefit "for more years" than he can remember.
Cox told Sunday News the reason for the visit was "just to check the market and talk about a few things".
Any income he receives from selling his houses could affect his invalid's benefit but he is just months away from receiving government superannuation which is not income-tested.
If he were to sell now, any income he received from a sale could jeopardise his eligibility for the invalid's benefit.
Sunday News spoke to Cox after being told he had built up the property portfolio, worth nearly $500,000, while being on various benefits for 30 years.
Cox had also previously owned an additional house but had transferred it into his mother's name.
She lives in a rest home.
Cox said he couldn't remember exactly how long he'd been on the benefit.
"More years than I can remember," he said.
Inquiries have confirmed the 64-year-old who lives with his girlfriend Sandra Hilleard in the Christchurch suburb of Linwood is entitled to a benefit of around $200 a week because he suffers from deep-vein thrombosis, caused by the formation of blood clots in major veins.
His three houses are empty and have not been maintained one had shrubbery overgrowing it.
Neighbours said Cox and Hilleard visited every few weeks to check on the houses.
Asked by Sunday News why he didn't sell any of his three properties and stop receiving taxpayer-funded handouts, Cox said: "Why should I?"
"It's a depressed market out there at the moment and it would be hard to get a buyer," he said. "I'm not a bloody criminal. I'm not doing anything wrong."
Unlike Australia, New Zealand does not asset-test beneficiaries.
If Cox lived across the Tasman he would probaby not be eligible for their invalid's benefit equivalent, the disability support pension.
The total value of property a beneficiary living with a partner can own in Australia is $243,500.
But our government has no plans to introduce asset-testing for benefits.
"I have to be honest with you, this is not a priority of ours at the moment," Social Development Minister Paula Bennett told Sunday News.
"We are focused on keeping people in the job market at the moment."
Bennett described the issue as "tough and complex" but hoped people only used benefit assistance "when they really needed it".
"Benefits are supposed to be there for those who can't help themselves," the minister said.
Bennett said asset-testing benefits could prove difficult.
"Would we then be telling people they need to sell their car?" she asked.
Ministry of Social Development deputy chief executive Patricia Reade said Cox was presently the subject of an investigation but she would not elaborate.
"Until this investigation is completed it would be wrong for us to discuss details of it in the media," Reade said.
But Hilleard said the investigation was likely to relate to Cox receiving the accommodation supplement while he was living with her.
"And I was working at the time," Hilleard said.
Cox is listed as a director of Milroy Courts Ltd. Sunday News has been unable to establish what the company does.