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Family Situation | Lower Threshold | Upper Threshold |
Single | up to $212 p/f $5,512 pa | $2,500.80 p/f $65,021 pa |
Couple (combined) | up to $372 p/f $9,672 pa | $3,822.40 p/f $99,382 pa |
Once lower threshold is exceeded fortnightly pension decreases by 50 cents for each $1 earned for singles, and 25 cents for couples, until upper threshold is reached.
Family Situation | Home Owners | Non - Home Owners |
Levels for Full Pension | $ | $ |
Single | 314,000 | 566,000 |
Couple (combined) | 470,000 | 722,000 |
Once assets test limit exceeded the full pension decreases by $1.50 a fortnight for every $1000 in excess
Limit when no pension received | ||
Single | 695,000 | 947,500 |
Couple (combined) | 1,045,500 | 1,297,500 |
Couple (separated due to illness) | 1,233,000 | 1,485,000 |
Up to $62,600 of financial assets | 0.25% |
Over $62,600 of financial assets | 2.25% |
Up to $103,800 of financial assets | 0.25% |
Over $103,800 of financial assets | 2.25% |
Deeming rates can change on an annual basis in September each year. To provide greater certainty for age pensioners the current rates will apply until June 30, 2024.
Single income limit | $99,025 |
Couple income limit | $158,440 |
Couple separated due to illness | $198,050 |
