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HomeCentrelink – Services AustraliaAge PensionFull and part Age Pension income and asset test thresholds

Full and part Age Pension income and asset test thresholds

Updated 19 September 2023: Changes to part pension income and asset thresholds will take effect from 20 September 2023 through to 19 March 2024. Full Age Pension limits are current between 1 July 2023 and 30 June 2024.

Below are the new limits that will apply to you:

SituationFull Age Pension (max earnings allowed per fortnight)Part Age Pension (max earnings allowed per fortnight)
Singleup to $204less than $2397.40
Couple (combined)up to $360less than $3666.80
Illness separated (couple combined)up to $360less than $4746.80
Note: Full Age Pension limits are current between 1 July 2023 and 30 June 2024. Part Age Pension limits current from 20 September 2023.


Centrelink asset test limits for full Age Pensions – effective from 20 March 2023

SituationHomeownersNon-homeowners
Single$301,750$504,500
Couple (combined)$451,500$693,500
Illness separated (couple combined)$419,000$693,500
Note: Limits current between 1 July 2023 and 30 June 2024.


Centrelink asset test limits for part Age Pensions – effective from 20 September 2023

SituationHomeownersNon-homeowners
Single$667,500$909,500
Couple (combined)$1,003,000$1,245,000
Illness separated (couple combined)$1,183,000$1,425,000
Note: Limits current from 20 September 2023.


Centrelink income test limits for transitional part Age Pensions – effective from 20 September 2023

Situation 
Singleless than $2471.00
Couple (combined)less than $4018.00
Illness separated (couple combined)less than $4453.00
Note: Limits current from 20 September 2023.


Centrelink asset test limits for transitional part Age Pensions – effective from 20 September 2023

SituationHomeownersNon-homeowners
Single$604,250$846,250
Couple (combined)$939,500$1,181,500
Illness separated (couple combined)$1,056,500$1,298,500
Note: Limits current from 20 September 2023.


Centrelink deeming thresholds – effective from 1 July 2023
 

Family SituationAssets ThresholdDeeming rate
Single$0 – $60,4000.25%
Above $60,4002.25%
Pensioner Couple – combined (2)$0 – $100,2000.25%
Above $100,2002.25%

We’ve compiled all you need to know about Age Pension payment rates and supplements. You can also check Services Australia for more information about the assets test and the income test.

5 COMMENTS

  1. Our two couples pensions arrived today, no increase. Centrelink website says next fortnight’s payment is the same, no increase. So not only have costs gone up significantly while they have been thinking about the possible increase, we are looking at no increased payments in September. What a joke. People are paid good money to administer the AP, you’d think they could get it right.

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