27th Jun 2014

Asset test tables

FONT SIZE: A+ A-
Debbie McTaggart

View the tables below to find out the Asset Test Limits for allowances and pensions for homeowners and non-homeowners.

Centrelink asset test limits for Allowances and full Age Pensions - effective from 1 July until 30 June 2015

Situation

Homeowners

Non-homeowners

Single

$202,000

$348,500

Couple (combined)

$286,500

$433,000

Illness separated (couple combined)

$286,500

$433,000

One partner eligible (combined assets)

$286,500

$433,000

 

Centrelink asset test limits for part Age Pensions - effective from 1 July until 19 September 2014

Situation

Homeowners

Non-homeowners

Single

$764,000

$910,500

Couple (combined)

$1,134,000

$1,280,500

Illness separated (couple combined)

$1,410,500

$1,557,000

One partner eligible (combined assets)

$1,126,500

$1,280,500

 

Centrelink asset test limits for Transitional homeowner - Resident

Situation

Homeowners

Non-homeowners

Single

$678,000

$824,250

Couple (combined)

$1,054,000

$1,200,500

Illness separated (couple combined)

$1,238,500

$1,385,000

One partner eligible (combined assets)

$1,054,000

$1,200,500

 

Note: These tables are for guidance only and should be read in conjunction with Centrelink rules

Click here for details of the updated Centrelink income test limits.





COMMENTS

To make a comment, please register or login
Wassa
30th Jun 2014
11:43am
How does asset test work when one person is just at retirement age, but other partner still has 7 years to go. Does Centrelink use combined asset approach or single person asset approach?
Misty
30th Jun 2014
12:18pm
Check on the website, I think they take into account your partners income so maybe they do it on a combined level.
Misty
30th Jun 2014
12:22pm
There are tags at the bottom of this article you can click on to get more information, Age Pension, Centrelink etc.
Janall
30th Jun 2014
12:16pm
Centrelink uses the combined asset approach. Go and see an FIS at Centrelink, they are very helpful with all this. My wife is younger than me and we are going through this at the moment.

30th Jun 2014
12:17pm
YEAH, yeah, yeah I can have $348,500...if I had that sort of money I would not need the pension AT ALL
Young Simmo
30th Jun 2014
12:58pm
Yep, I just check our money box and am confident that there isn't $433,000.00 in there. The only thing that can bugger up our situation is winning lotto. Then to solve our massive problem I would give our winnings to the, "Politicians Emergency Support Fund".
Let's face it they need help when they retire, they are not lucky like the rest of us.
HOLA
1st Jul 2014
8:25am
If I won Lotto YOUNG SIMMO, it would give me great pleasure to front up to Centrelink and tell them they can stick their pension where Nobby stuck his nuts.
gerryhatrick
30th Jun 2014
5:10pm
They are joking surely with anything close to $200.00 in the bank you would not be entitled to a full pension .If so its no wonder we are in an unsustainable sistuation
Misty
30th Jun 2014
11:36pm
I think you left a couple of zero's off gerryhatrick.
fedup
29th Jul 2014
12:28pm
Assets is not just money in the bank its car, furniture anything with value plus savings in the bank all added up !!!!
0gran020
30th Jun 2014
5:26pm
Yes well are they going to get fair dinkum and start asset testing for the Vietnam vets the same way they asset test the average DEP pensioners, after all even though we did not go over seas to fight for Australia, it seems to be forgotten that some one had to stay hear to keep (Australia) "OPEN FOR BUSINESS " PM Abbots words . don't get me wrong the vets need looking after but its a bit of a joke when they have to go over seas or buy new cars or are generally put in the position of having to spend money just so they don't appear to have to many assets .
gerryhatrick
1st Jul 2014
10:07am
Yep sure make a big mistake when I quoted $200 that's about what most of us have sitting in a bank I meant to say $200.000 that's an awful lot of money sitting gaining interest monthly I have a couple of friends who tell me they are doing it tough on a part pension I think I can now see how tough it would be no wonder they can have the odd holiday I just thought they were better managers than I am


Join YOURLifeChoices, it’s free

  • Receive our daily enewsletter
  • Enter competitions
  • Comment on articles

you might also be interested in...

Pension increases

Pension increases

From 20 March 2012 pension rates will increase in line with cost of living increases. This will result in an increase of $6.70 for a single Age Pension.

Will your pension increase?

Income test limits for pensions

Income test limits for pensions

The CPI rise in pension payments is also reflected by an increase in the amount of income you can receive before you lose your pension completely.

Centrelink income tests

Utility bills are on the rise

Utility bills are on the rise

YOURLifeChoices shows how to reduce your power costs and make your life that little bit easier.

Reduce your power costs now

Increased asset test limits

Increased asset test limits

Asset limits have been reviewed and increased in line with recent CPI pension increases.

Centrelink asset test

Guide to Centrelink

Guide to Centrelink

YOURLifeChoices answer your questions on the Age Pension, Starting retirement and using Centrelink Online Services.

Your Centrelink questions answered