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  Government BenefitsAge Pension - TaxPack Q6Assets Test      Tuesday, 27 July 2021  

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Assets Test For Age & Service Pensions


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Pension Assets Test Taper Rate
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From 1/1/2017 the pension will be reduced by $78 per annum ($3.00 per fortnight) / per $1,000 of assets over full pension thresholds.

From 20/9/2007 to 31/12/2016 the pension is reduced by $39 per annum ($1.50 per fortnight) / per $1,000 of assets over full pension threshold.

Up to 19/9/2007, the pension was reduced by $78 per annum ($3.00 per fortnight) / per $1,000 of assets over full pension thresholds.

In addition to the Age Pension and Age Service Pension, this test also applies to Disability Support Pension (over 21), Carer Payment, Wife Pension, Widow B Pension and Invalidity Service Pension and Partner Service Pension.


   
Thresholds - Single Person 2017/2018 todate
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Thresholds - Single Person 2004/2005 to 2016/2017
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Thresholds - Couple - Both Eligible / Only One Partner Eligible 2017/2018 todate
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Residents

Partnered (combined)

Homeowner

Non-Homeowner

From

To

For full pension

Pension cut out

For full pension

Pension cut out

2020/2021

01/7/21

19/9/21

$405,000

$884,000

$621,500

$1,100,500

20/3/21

30/6/21

$401,500

$880,500

$616.000

$1,095,000

1/7/20

19/3/21

$401,500

$876,500

$616,000

$1,091,000

2019/2020

20/3/20

30/6/20

$394,500

$869,500

$605,000

$1,080,000

20/9/19

19/3/20

$394,500

$863,500

$605,000

$1,074,000

01/7/19

19/9/19

$394,500

$860,000

$605,000

$1,070,500

2018/2019

20/3/19

30/6/19

$387,500

$853,000

$594,500

$1,060,000

20/9/18

19/3/19

$387,500

$848,000

$594,500

$1,055,000

01/7/18

19/9/18

$387,500

$844,000

$594,500

$1,051,000

2017/2018

20/3/18

30/6/18

$380,500

$837,000

$583,500

$1,040,000

20/9/17

19/3/18

$380,500

$830,000

$583,500

$1,033,000

01/7/17

19/9/17

$380,500

$827,000

$583,500

$1,030,000




   
Thresholds - Couple – Both Eligible/Only One Partner Eligible 2004/2005 to 2016/2017
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Thresholds - Couple - Separated due to ill-health 2017/2018 todate
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Couples – Separated Due to Ill-Health 2004/2005 to 2017/2018
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Complying Income Streams Asset Test Exemptions
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Superannuation Income Stream – Centrelink Warning
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This page was last edited on 9 June 2021

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