Pension thresholds from 20 March 2018

Changes to income and asset thresholds will take effect from 20 September 2017. 

Below are the new limits that will apply to you:

Centrelink income test limits for Age Pensions from 20 March 2018 

Situation For full pension/allowance (per fortnight) For part pension(pf) From 20 March 2018
Single up to $168 less than $1983.20
Couple (combined) up to $300 less than $3036.40
Illness separated (couple combined) up to $300 less than $3930.40

  Centrelink asset test limits for full Age Pensions from 1 July 2017

Situation Homeowners Non-homeowners
Single $253,750 $456,750
Couple (combined) $380,500 $583,500
Illness separated (couple combined) $380,500 $583,500
One partner eligible (combined assets) $380,500 $583,500

Centrelink asset test limits for part Age Pensions – effective from 20 March 2018

Situation Homeowners Non-homeowners
Single $556,500 $759,500
Couple (combined) $837,000 $1,040,000
Illness separated (couple combined) $986,000 $1,189,000
One partner eligible (combined assets) $837,000 $1,040,000

   Centrelink income test limits for transitional part Age Pensions from 20 March 2018

Situation  
Single less than $2073.00
Couple (combined) less than $3374.00
Illness separated (couple combined) less than $4110.00

 

Centrelink asset test limits for transitional part Age Pensions – effective from 20 March 2018

Situation Homeowners Non-homeowners
Single $507,750 $710,750
Couple (combined) $790,500 $993,500
Illness separated (couple combined) $888,500 $1,091,500
One partner eligible (combined assets) $790,500 $993,500

Centrelink deeming thresholds from 1 July 2017 

Family Situation Assets Threshold Rate of Deemed Income
Single $0 – $50,200 1.75%
Above $50,200 3.25%
Allowee Couple – per person (1) $0 – $41,700 1.75%
Above $41,700 3.25%
Pensioner Couple – combined (2) $0 – $83,400 1.75%
Above $83,400 3.25%

Written by Leon Della Bosca

Leon Della Bosca has worked in publishing and media in one form or another for around 25 years. He's a voracious reader, word spinner and art, writing, design, painting, drawing, travel and photography enthusiast. You'll often find him roaming through galleries or exploring the streets of his beloved Melbourne and surrounding suburbs, sketchpad or notebook in hand, smiling.
Contact:
LinkedIn
Email



SPONSORED LINKS

LOADING MORE ARTICLE...