Changes to income and asset thresholds will take effect from 1 July 2018.
Below are the new limits that will apply to you:
Centrelink income test limits for Age Pensions from 1 July 2018
| Situation | For full pension/allowance (per fortnight) | For part pension(pf) From 1 July 2018 |
| Single | up to $172 | less than $1987.20 |
| Couple (combined) | up to $304 | less than $3040.40 |
| Illness separated (couple combined) | up to $304 | less than $3934.40 |
Centrelink asset test limits for full Age Pensions from 1 July 2018
|
Situation |
Homeowners |
Non-homeowners |
|
Single |
$258,500 |
$465,500 |
|
Couple (combined) |
$387,500 |
$594,500 |
|
Illness separated (couple combined) |
$387,500 |
$594,500 |
Centrelink asset test limits for part Age Pensions – effective from 1 July 2018
|
Situation |
Homeowners |
Non-homeowners |
|
Single |
$561,250 |
$768,250 |
|
Couple (combined) |
$844,000 |
$1,051,000 |
|
Illness separated (couple combined) |
$993,000 |
$1,200,000 |
Centrelink income test limits for transitional part Age Pensions from 1 July 2018
|
Situation |
|
|
Single |
less than $2077.00 |
|
Couple (combined) |
less than $3378.00 |
|
Illness separated (couple combined) |
less than $4114.00 |
Centrelink asset test limits for transitional part Age Pensions – effective from 1 July 2018
|
Situation |
Homeowners |
Non-homeowners |
|
Single |
$512,500 |
$719,500 |
|
Couple (combined) |
$797,500 |
$1,004,500 |
|
Illness separated (couple combined) |
$895,500 |
$1,102,500 |
Centrelink deeming thresholds from 1 July 2018
|
Family Situation |
Assets Threshold |
Increase |
Deeming Rate |
|
Single |
$0 – $51,200 |
$1000 |
1.75% |
|
Above $51,200 |
|
3.25% |
|
|
Pensioner Couple – combined (2) |
$0 – $85,000 |
$1600 |
1.75% |
|
Above $85,000 |
|
3.25% |