Age Pension update: 1 July 2018 changes

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%

Written by Leon Della Bosca

Leon Della Bosca is a voracious reader who loves words. You'll often find him spending time in galleries, writing, designing, painting, drawing, or photographing and documenting street art. He has a publishing and graphic design background and loves movies and music, but then, who doesn’t?
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