New asset deeming limits

The asset thresholds which apply to deeming rates for the Age Pension have changed from 1 July 2014.

New asset deeming limits

From 1 July 2014, the asset thresholds which apply to deeming rates for the Age Pension have changed. Find out the new applicable thresholds.

Deeming rates are applied to assessable assets in order to apply a rate of deemed income for the Age Pension income thresholds. The new asset thresholds and associated deeming rates are as follows:

Family situation

Asset threshold

Deeming rate


$0 - $48,000

2 per cent

Above $48,000

3.5 per cent

Couple receiving an allowance but no pension – per person

$0 – $39,800

2 per cent

Above $39,800

3.5 per cent

Couple receiving a pension – combined

$0 - $79,600

2 per cent

Above $79,600

3.5 per cent

To find out more about deeming rates and how your Age Pension or allowance is affected, visit


    To make a comment, please register or login
    1st Jul 2014
    If the budget proposals go through the Senate then these thresholds will come crashing down to just $30,000 for singles and $50,000 for couples in Sept 2017. The weird part is that there are 3 more indexation increases before Sept 2017 that could take the thresholds up to around $52,450 for Singles & $87,000 for couples assuming CPI stays at 3%. And then in Sep 2017 they will be reset DOWN to 30k & 50k. Pensioners and low income earners with bank accounts above these thresholds are in for an extremely rude shock in when pensions, allowances, etc are all REDUCED. Heavy lifting becomes heavier and ongoing.
    1st Jul 2014
    You lifted that Too easily Sallad ?? More weights will be added to the Bar next lift !!..
    25 more KG !!..."ERRRRRK !!"
    1st Jul 2014
    I have to admit my ignorance here. Being less than 2 years away from 'official' retirement I need to ask:
    1. What does the word "allowance" refer to in the above Table?
    2. Are the "assets threshhold" for deeming purposes only for cash in the bank or do they relate to all assets?
    Hope some better versed than I people can clarify these for a babe in the woods.
    1st Jul 2014
    I'm the same Mick, don't understand all this, I was under the impression that a single person with property was allowed to have $196,750 in the bank and still get a full pension. Maybe it means any savings above $30,000 will be deemed to earn interest (income) and the govt want a % of this
    1st Jul 2014
    I followed the link in the article above. It talks about bank deposits and shares but it fails to mention real estate. So how does real estate come into the mix. I know there are some clever heads out there so hope to get some clarification. If not then off to google.
    Not Senile Yet!
    1st Jul 2014
    The assumption is that if anyone has above the amounts then the income earned will be % mentioned and therefore as income included (deducted) from the rates allowed to earn and still collect a full pension. Basically if you have more savings/ will be penalised by a reduction in your pension.
    So back to hoarding it all under the mattress or sending it elsewhere!
    These people are morons if they think people will not just shift what they have to accommodate this stupid deeming provision!
    If they were serious about people working till their 70...they would stop fiddling with these things and setting up penalties for those who work.......should go the other way.....remove all restrictions that penalise you working Part-time and put in place rewards for taking an annuity from your Super and downsizing your property!
    This is a discriminatory act aimed directly at penalising those who simply cannot comprehend what is involved.
    Outright rip-off by the Government to Lower what they should be paying to the Baby Boomers.......simply because they spent the Revenue raised to pay for their did not budget for their Retirement Pensions as they promised they would.
    This smacks of Liberal Right Wing Politics......they will not pay anyone anything if they can change the Rules to avoid doing so!
    But there is an upside......then they can afford the New Defence Planes from USA...which they do not really need.....but want!
    Vote Independent For the Senate.....get rid of the Party Machines....all of them(they are all corrupt)....from the Senate.
    No Independent would vote this is an act of cruelty to our aged who by the way paid for the New Parliament House with their extra tax that was supposed to be put aside to finance their Pensions!.......Not Honourable Members new Chook House of RORTS!
    2nd Jul 2014
    When people voted for the Abbott government they believed what journalists were repeatedly repeating and running as 'news'. The last election was a one sided propaganda campaign using one line slogans and promises which Abbott never had any intention of keeping.
    SO do yourself a favour Not Senile Independent next election and make your vote count by sending the clearest of all messages to Labor and Liberal....that they are going to miss their turn.
    Not Senile Yet!
    1st Jul 2014
    If you are worried about collecting your Pension......don't!
    Just copy our beloved leaders.........organise the removal of all assets........get advice......then go bankrupt!
    A friend of mine sold off everything and went bankrupt.....hasn't an issue getting all his Pension......!!!!!
    Where did it all go to......well he sticks to....I gambled it all away!
    Lives in a unit at the rear of the Childrens' house and pays rent!
    His business an assets' have disappeared into the Never Never!
    Lead by example they say!
    What a bunch of Crooks these upper crusts are!
    2nd Jul 2014
    As I understand it any or all your Cash assets are deemed to be earning a certain amount not just the amount above $77400 for couples, even shares are taken as cash. The real estate portion of your assets is not deemed to be earning - unless you have rental income. My beef with it is that when they lower the cut off limit to $50,000) you will be deemed at the 3.5% which is hard to obtain and we will lose big time. After you have 'earned" above $284.00 you will lose 50c in the dollar. Wow did you see they allowed us an extra $8.00 per fortnight in earnings....ummm now what will I spend it on....
    2nd Jul 2014
    OH THAT leaves you only with a dollar because don't forget they want 7dollars from you when you go to the doctor!!!!
    spend it wisely lol mm
    2nd Jul 2014
    Isn't Abbott such a wonderful leader? And going to fix the nation too. Yeah right...the next lie there too.
    So get real: understand that you have been done over, so spread the word, get rid of this government asap and try a new flavour. The rich would be having a great chuckle at how naive we all are to be sucked in so easily.
    2nd Jul 2014
    Well folk these days are putting all their cash into Super before they retire. Apparently your Super cannot be used with calculations, when receiving the pension.
    There are folk with over $600,000 in Super, have 2 homes and still get the full pension. Some husbands are putting the super into their wives accounts - so there are still lurks out there - but I am informed your Super cannot be calculated into the pension as part of assets and apparently when you retire they cannot make you draw any of it.
    2nd Jul 2014
    Give it time Penniless. They are currently looking at this one so don't hold your breath too long. But super is a good tax lurk. Used by the rich to avoid the top marginal tax rate and only pay 15 cents in the dollar going into super. But also expect the tax free lump sum to disappear shortly, so then you'll have to take this as an annuity.
    I wonder if Australians are any better off as the casino always wins. The only way out is to copy the rich as they have their own special rules and one has no option other than to join them or as Not Senile Yet suggested: put your money under the mattress. But I suggest you think about that one too because of inflation and also 'paper' money may be worthless in the future if western nations keep printing money and accumulating debt. So who said investing was fun.
    8th Jul 2014
    Be gentle, I’m new here.
    My partner and I receive $1270.60 per fortnight as a couples disability support pension.
    We’re both below retirement age.

    She’s probably going to receive about $100,000 from a divorce settlement plus,
    she intends withdrawing her Superannuation of about $100,000.

    I intend selling my home that we both live in and putting the proceeds towards her
    funds so that we can buy a house together and have no rent and no mortgage.
    This will be our principle place of residence.

    Can anyone tell us how buying a house together would affect our DSP?
    And how would it affect our DSP’s if her funds sat in an interest bearing account for
    a month or two till we sell mine?
    9th Jul 2014
    Call 13 2300 and ask to speak with/or make an appointment with a Centrelink FIS (Financial Information Service) officer. He or she will will be able to help you after exploring all your options. The service is FREE and unbiased.
    18th Oct 2014
    It means all assets property, shares, fixed deposits, cash. They work out your pension
    On assets or Income, whichever costs them the least in pension. Bebe.

    Join YOURLifeChoices, it’s free

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