Full and part Age Pension income and asset test thresholds

Leon Della Bosca

8 months ago

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:

Centrelink income test limits for Age Pensions

Situation	Full Age Pension (max earnings allowed per fortnight)	Part Age Pension (max earnings allowed per fortnight)
Single	up to $204	less than $2397.40
Couple (combined)	up to $360	less than $3666.80
Illness separated (couple combined)	up to $360	less 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

Situation	Homeowners	Non-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

Situation	Homeowners	Non-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
Single	less 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

Situation	Homeowners	Non-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 Situation	Assets Threshold	Deeming rate
Single	$0 – $60,400	0.25%
	Above $60,400	2.25%
Pensioner Couple – combined (2)	$0 – $100,200	0.25%
	Above $100,200	2.25%

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.