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Assets Test For Age & Service Pensions
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WARNING! THIS PAGE HAS NOT BEEN UPDATED
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As we no longer have the resources to keep it up to date, this website ceased to be a subscription website from March 2022
(last annual subscription accepted in December 2020)
You should not rely on it for the most up to date information. Having said that, we do update some of it from time to time.
You may still find some of it useful.
You may wish to use the atotaxrates.info website instead, which may be more up to date.
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* Please click on maximise [+], not the titles, to display the contents of any hidden containers *
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Calculators
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Links to expert information on the Assets Test
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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.
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Thresholds - Single Person 2017/2018 to 19 March 2022
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Residents
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Single person
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Homeowner
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Non-Homeowner
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From
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To
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For full pension
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Pension cut out
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For full pension
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Pension cut out
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2020/2021
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20/9/21
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19/3/22
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$270,500
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$593,000
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$487,000
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$809,500
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01/7/21
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19/9/21
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$270,500
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$588,250
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$487,000
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$804,750
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2020/2021
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20/3/21
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30/6/21
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$268,000
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$585.750
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$482,500
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$800,250
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01/7/20
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19/3/21
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$268,000
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$583,000
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$482,500
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$797,500
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2019/2020
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20/3/20
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30/6/20
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$263,250
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$578,250
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$473,750
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$788,750
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20/9/19
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19/3/20
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$263,250
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$574,500
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$473,750
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$785,000
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01/7/19
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19/9/19
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$263,250
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$572,000
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$473,750
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$782,500
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2018/2019
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20/3/19
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30/6/19
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$258,500
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$567,250
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$465,500
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$774,250
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20/9/18
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19/3/19
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$258,500
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$564,000
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$465,500
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$771,000
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01/7/18
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19/9/18
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$258,500
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$561,250
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$465,500
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$768,250
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2017/2018
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20/3/18
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30/6/18
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$253,750
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$556,500
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$456,750
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$759,500
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20/9/17
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19/3/18
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$253,750
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$552,000
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$456,750
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$755,000
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01/7/17
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19/9/17
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$253,750
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$550,000
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$456,750
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$753,000
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Thresholds - Single Person 2004/2005 to 2016/2017
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Residents
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Single person
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Homeowner
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Non-Homeowner
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From
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To
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For full pension
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Pension cut out
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For full pension
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Pension cut out
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2016/2017
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20/3/17
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30/6/17
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$250,000
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$546,250
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$450,000
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$746,250
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01/1/17
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19/3/17
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$250,000
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$547,000
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$450,000
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$747,000
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20/9/16
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31/12/16
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$209,000
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$793,750
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$360,500
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$945,250
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01/7/16
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19/9/16
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$209,000
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$791,750
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$360,500
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$943,250
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2015/2016
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20/3/16
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30/6/16
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$205,500
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$788,250
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$354,500
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$937,250
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20/9/15
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19/3/16
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$205,500
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$783,500
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$354,500
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$932,500
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01/7/15
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19/9/15
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$205,500
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$779,000
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$354,500
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$928,000
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2014/2015
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20/3/15
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30/6/15
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$202,000
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$775,750
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$348,500
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$922,000
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20/9/14
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19/3/15
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$202,000
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$771,750
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$348,500
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$918,250
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01/7/14
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19/9/14
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$202,000
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$764,000
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$348,500
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$910,500
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2013/2014
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20/3/14
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30/6/14
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$196,750
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$758,750
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$339,250
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$901,250
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20/9/13
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19/3/14
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$196,750
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$748,250
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$339,250
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$890,750
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01/7/13
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19/9/13
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$196,750
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$735,750
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$339,250
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$878,250
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2012/2013
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20/3/13
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30/6/13
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$192,500
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$731,500
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$332,000
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$871,000
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20/9/12
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19/3/13
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$192,500
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$707,750
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$332,000
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$847,250
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01/7/12
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19/9/12
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$192,500
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$696,250
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$332,000
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$835,750
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2011/2012
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20/3/12
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30/6/12
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$186,750
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$690,500
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$321,750
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$825,500
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20/9/11
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19/3/12
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$186,750
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$686,000
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$321,750
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$821,000
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01/7/11
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19/9/11
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$186,750
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$673,000
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$321,750
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$808,000
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2010/2011
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20/3/11
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30/6/11
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$181,750
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$668,000
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$313,250
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$799,500
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20/9/10
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19/3/11
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$181,750
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$659,250
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$313,250
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$790,750
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01/7/10
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19/9/10
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$181,750
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$649,250
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$313,250
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$780,750
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2009/2010
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20/3/10
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30/6/10
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$178,000
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$645,500
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$307,000
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$774,500
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20/9/09
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19/3/10
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$178,000
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$626,000
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$307,000
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$755,000
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01/7/09
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19/9/09
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$178,000
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$562,000
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$307,000
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$691,000
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2008/2009
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20/3/09
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30/6/09
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$171,750
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$555,750
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$296,250
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$680,250
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20/9/08
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19/3/09
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$171,750
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$550,500
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$296,250
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$675,000
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01/7/08
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19/9/08
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$171,750
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$540,250
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$296,250
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$664,750
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2007/2008
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20/3/08
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30/6/08
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$166,750
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$535,250
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$287,750
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$656,250
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20/9/07
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19/3/08
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$166,750
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$529,250
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$287,750
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$650,250
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01/7/07
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19/9/07
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$166,750
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$343,750
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$287,750
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$464,750
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2006/2007
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20/3/07
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30/6/07
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$161,500
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$338,500
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$278,500
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$455,500
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20/9/06
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19/3/07
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$161,500
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$334,250
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$278,500
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$451,250
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01/7/06
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19/9/06
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$161,500
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$330,000
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$278,500
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$447,000
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2005/2006
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20/3/06
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30/6/06
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$157,000
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$325,500
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$270,500
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$439,000
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20/9/05
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19/3/06
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$157,000
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$322,000
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$270,500
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$435,500
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01/7/05
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19/9/05
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$157,000
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$317,750
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$270,500
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$431,250
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2004/2005
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20/3/05
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30/6/05
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$153,000
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$313,750
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$263,500
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$424,250
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20/9/04
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19/3/05
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$153,000
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$312,000
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$263,500
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$422,500
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01/7/04
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19/9/04
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$153,000
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$309,750
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$263,500
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$420,250
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Thresholds - Couple - Both Eligible / Only One Partner Eligible 2017/2018 to 19 March 2022
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Residents
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Partnered (combined)
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Homeowner
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Non-Homeowner
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From
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To
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For full pension
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Pension cut out
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For full pension
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Pension cut out
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2021/2022
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20/9/21
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19/3/22
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$405,000
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$891,500
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$621,500
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$1,108,000
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01/7/21
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19/9/21
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$405,000
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$884,000
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$621,500
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$1,100,500
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2020/2021
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20/3/21
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30/6/21
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$401,500
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$880,500
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$616.000
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$1,095,000
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1/7/20
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19/3/21
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$401,500
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$876,500
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$616,000
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$1,091,000
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2019/2020
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20/3/20
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30/6/20
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$394,500
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$869,500
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$605,000
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$1,080,000
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20/9/19
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19/3/20
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$394,500
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$863,500
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$605,000
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$1,074,000
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01/7/19
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19/9/19
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$394,500
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$860,000
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$605,000
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$1,070,500
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2018/2019
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20/3/19
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30/6/19
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$387,500
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$853,000
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$594,500
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$1,060,000
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20/9/18
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19/3/19
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$387,500
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$848,000
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$594,500
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$1,055,000
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01/7/18
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19/9/18
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$387,500
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$844,000
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$594,500
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$1,051,000
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2017/2018
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20/3/18
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30/6/18
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$380,500
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$837,000
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$583,500
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$1,040,000
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20/9/17
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19/3/18
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$380,500
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$830,000
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$583,500
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$1,033,000
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01/7/17
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19/9/17
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$380,500
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$827,000
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$583,500
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$1,030,000
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Thresholds - Couple – Both Eligible/Only One Partner Eligible 2004/2005 to 2016/2017
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Residents
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Partnered (combined)
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Homeowner
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Non-Homeowner
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From
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To
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For full pension
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Pension cut out
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For full pension
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Pension cut out
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2016/2017
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20/3/17
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30/6/17
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$375,000
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$821,500
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$575,000
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$1,021,500
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01/1/17
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19/3/17
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$375,000
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$823,000
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$575,000
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$1,023,000
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20/9/16
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31/12/16
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$296,500
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$1,178,500
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$448,000
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$1,330,000
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01/7/16
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19/9/16
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$296,500
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$1,175,000
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$448,000
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$1,326,500
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2015/2016
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20/3/16
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30/6/16
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$291,500
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$1,170,000
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$440,500
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$1,319,000
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20/9/15
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19/3/16
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$291,500
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$1,163,000
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$440,500
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$1,312,000
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01/7/15
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19/9/15
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$291,500
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$1,156,500
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$440,500
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$1,305,500
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2014/2015
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20/3/15
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30/6/15
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$286,500
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$1,151,500
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$433,000
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$1,298,000
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20/9/14
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19/3/15
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$286,500
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$1,145,500
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$433,000
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$1,292,000
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01/7/14
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19/9/14
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$286,500
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$1,134,000
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$433,000
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$1,280,500
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2013/2014
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20/3/14
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30/6/14
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$279,000
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$1,126,500
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$421,500
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$1,269,000
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20/9/13
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19/3/14
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$279,000
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$1,110,500
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$421,500
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$1,253,000
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01/7/13
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19/9/13
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$279,000
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$1,092,000
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$421,500
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$1,234,500
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2012/2013
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20/3/13
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30/6/13
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$273,000
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$1,086,000
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$412,500
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$1,225,500
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20/9/12
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19/3/13
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$273,000
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$1,050,000
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$412,500
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$1,189,500
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01/7/12
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19/9/12
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$273,000
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$1,032,500
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$412,500
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$1,172,000
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2011/2012
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20/3/12
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30/6/12
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$265,000
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$1,024,500
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$400,000
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$1,159,500
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20/9/11
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19/3/12
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$265,000
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$1,018,000
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$400,000
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$1,153,000
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01/7/11
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19/9/11
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$265,000
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$998,000
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$400,000
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$1,133,000
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2010/2011
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20/3/11
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30/6/11
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$258,000
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$991,000
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$389,500
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$1,122,500
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20/9/10
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19/3/11
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$258,000
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$978,000
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$389,500
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$1,109,500
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01/7/10
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19/9/10
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$258,000
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$963,000
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$389,500
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$1,094,500
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2009/2010
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20/3/10
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30/6/10
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$252,500
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$957,500
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$381,500
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$1,086,500
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20/9/09
|
19/3/10
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$252,500
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$928,000
|
$381,500
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$1,057,000
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01/7/09
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19/9/09
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$252,500
|
$891,500
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$381,500
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$1,020,500
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2008/2009
|
|
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20/3/09
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30/6/09
|
$243,500
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$882,500
|
$368,000
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$1,007,000
|
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20/9/08
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19/3/09
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$243,500
|
$873,500
|
$368,000
|
$998,000
|
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01/7/08
|
19/9/08
|
$243,500
|
$856,500
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$368,000
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$981,000
|
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2007/2008
|
|
20/3/08
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30/6/08
|
$236,500
|
$849,500
|
$357,500
|
$970,500
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20/9/07
|
19/3/08
|
$236,500
|
$839,500
|
$357,500
|
$960,500
|
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01/7/07
|
19/9/07
|
$236,500
|
$531,000
|
$357,500
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$652,000
|
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2006/2007
|
|
20/3/07
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30/6/07
|
$229,000
|
$523,500
|
$346,000
|
$640,500
|
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20/9/06
|
19/3/07
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$229,000
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$516,500
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$346,000
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$633,500
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01/7/06
|
19/9/06
|
$229,000
|
$509,500
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$346,000
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$626,500
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2005/2006
|
|
20/3/06
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30/6/06
|
$223,000
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$503,500
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$336,500
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$617,000
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20/9/05
|
19/3/06
|
$223,000
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$497,500
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$336,500
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$611,000
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01/7/05
|
19/9/05
|
$223,000
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$490,500
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$336,500
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$604,000
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2004/2005
|
|
20/3/05
|
30/6/05
|
$217,500
|
$485,000
|
$328,000
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$595,500
|
|
20/9/04
|
19/3/05
|
$217,500
|
$481,500
|
$328,000
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$592,000
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01/7/04
|
19/9/04
|
$217,500
|
$478,000
|
$328,000
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$588,500
|
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Thresholds - Couple - Separated due to ill-health 2017/2018 to 19 March 2022
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|
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Residents
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Couples separated due to ill-health (combined)
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Homeowner
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Non-Homeowner
|
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From
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To
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For full pension
|
Pension cut out
|
For full pension
|
Pension cut out
|
|
2021/2022
|
|
20/9/21
|
19/3/22
|
$405,000
|
$1,050,000
|
$621,500
|
$1,266,500
|
|
01/7/21
|
19/9/21
|
$405,500
|
$1,040,500
|
$621,500
|
$1,257,000
|
|
2020/2021
|
|
20/3/21
|
30/6/21
|
$401,500
|
$1,037,000
|
$616,000
|
$1,251,500
|
|
01/7/20
|
19/3/21
|
$401,500
|
$1,031,500
|
$616,000
|
$1,246,000
|
|
2019/2020
|
|
20/3/20
|
30/6/20
|
$394,500
|
$1,024,500
|
$605,000
|
$1,235,000
|
|
20/9/19
|
19/3/20
|
$394,500
|
$1,017,000
|
$605,000
|
$1,227,500
|
|
01/7/19
|
19/9/19
|
$394,500
|
$1,012,000
|
$605,000
|
$1,222,500
|
|
2018/2019
|
|
20/3/19
|
30/6/19
|
$387,500
|
$1,005,000
|
$594,500
|
$1,212,000
|
|
20/9/18
|
19/3/19
|
$387,500
|
$998,500
|
$594,500
|
$1,205,500
|
|
01/7/18
|
19/9/18
|
$387,500
|
$993,000
|
$594,500
|
$1,200,000
|
|
2017/2018
|
|
20/3/18
|
30/6/18
|
$380,500
|
$986,000
|
$583,500
|
$1,189,000
|
|
20/9/17
|
19/3/18
|
$380,500
|
$977,000
|
$583,500
|
$1,180,000
|
|
01/7/17
|
19/9/17
|
$380,500
|
$973,000
|
$583,500
|
$1,176,000
|
|
| |
|
Couples – Separated Due to Ill-Health 2004/2005 to 2016/2017
|
|
|
Residents
|
Couples separated due to ill-health (combined)
|
Homeowner
|
Non-Homeowner
|
|
From
|
To
|
For full pension
|
Pension cut out
|
For full pension
|
Pension cut out
|
|
2016/2017
|
|
20/3/17
|
30/6/17
|
$375,000
|
$967,500
|
$575,000
|
$1,167,500
|
|
01/1/17
|
19/3/17
|
$375,000
|
$960,000
|
$575,000
|
$1,160,000
|
|
20/9/16
|
31/12/16
|
$296,500
|
$1,466,000
|
$448,000
|
$1,617,500
|
|
1/7/16
|
19/9/16
|
$296,500
|
$1,462,000
|
$448,000
|
$1,613,500
|
|
2015/2016
|
|
20/3/16
|
30/6/16
|
$291,500
|
$1,457,000
|
$440,500
|
$1,606,000
|
|
20/9/15
|
19/3/16
|
$291,500
|
$1,447,500
|
$440,500
|
$1,596,500
|
|
01/7/15
|
19/9/15
|
$291,500
|
$1,438,500
|
$440,500
|
$1,587,500
|
|
2014/2015
|
|
20/3/15
|
30/6/15
|
$286,500
|
$1,433,500
|
$433,000
|
$1,580,000
|
|
20/9/14
|
19/3/15
|
$286,500
|
$1,426,000
|
$433,000
|
$1,572,500
|
|
01/7/14
|
19/9/14
|
$286,500
|
$1,410,500
|
$433,000
|
$1,557,000
|
|
2013/2014
|
|
20/3/14
|
30/6/14
|
$279,000
|
$1,403,000
|
$421,500
|
$1,545,500
|
|
20/9/13
|
19/3/14
|
$279,000
|
$1,382,000
|
$421,500
|
$1,524,500
|
|
01/7/13
|
19/9/13
|
$279,000
|
$1,357,000
|
$421,500
|
$1,499,500
|
|
2012/2013
|
|
20/3/13
|
30/6/13
|
$273,000
|
$1,351,000
|
$412,500
|
$1,490,500
|
|
20/9/12
|
19/3/13
|
$273,000
|
$1,303,500
|
$412,500
|
$1,443,000
|
|
01/7/12
|
19/9/12
|
$273,000
|
$1,280,500
|
$412,500
|
$1,420,000
|
|
2011/2012
|
|
20/3/12
|
30/6/12
|
$265,000
|
$1,272,500
|
$400,000
|
$1,407,500
|
|
20/9/11
|
19/3/12
|
$265,000
|
$1,263,500
|
$400,000
|
$1,398,500
|
|
01/7/11
|
19/9/11
|
$265,000
|
$1,237,500
|
$400,000
|
$1,372,500
|
|
2010/2011
|
|
20/3/11
|
30/6/11
|
$258,000
|
$1,230,500
|
$389,500
|
$1,362,000
|
|
20/9/10
|
19/3/11
|
$258,000
|
$1,213,000
|
$389,500
|
$1,344,500
|
|
01/7/10
|
19/9/10
|
$258,000
|
$1,193,000
|
$389,500
|
$1,324,500
|
|
2009/2010
|
|
20/3/10
|
30/6/10
|
$252,500
|
$1,187,500
|
$381,500
|
$1,316,500
|
|
20/9/09
|
19/3/10
|
$252,500
|
$1,148,500
|
$381,500
|
$1,277,500
|
|
01/7/09
|
19/9/09
|
$252,500
|
$1,020,500
|
$381,500
|
$1,149,500
|
|
2008/2009
|
|
20/3/09
|
30/6/09
|
$243,500
|
$1,011,500
|
$368,000
|
$1,136,000
|
|
20/9/08
|
19/3/09
|
$243,500
|
$1,001,000
|
$368,000
|
$1,125,500
|
|
01/7/08
|
19/9/08
|
$243,500
|
$980,500
|
$368,000
|
$1,105,000
|
|
2007/2008
|
|
20/3/08
|
30/6/08
|
$236,500
|
$973,500
|
$357,500
|
$1,094,500
|
|
20/9/07
|
19/9/08
|
$236,500
|
$961,500
|
$357,500
|
$1,082,500
|
|
01/7/07
|
19/9/07
|
$236,500
|
$590,500
|
$357,500
|
$711,500
|
|
2006/2007
|
|
20/3/07
|
30/6/07
|
$229,000
|
$583,000
|
$346,000
|
$700,000
|
|
20/9/06
|
19/3/07
|
$229,000
|
$574,500
|
$346,000
|
$691,500
|
|
01/7/06
|
19/9/06
|
$229,000
|
$566,000
|
$346,000
|
$683,000
|
|
2005/2006
|
|
20/3/06
|
30/6/06
|
$223,000
|
$560,000
|
$336,500
|
$673,500
|
|
20/9/05
|
19/3/06
|
$223,000
|
$553,000
|
$336,500
|
$666,500
|
|
01/7/05
|
19/9/05
|
$223,000
|
$544,500
|
$336,500
|
$658,000
|
|
2004/2005
|
|
20/3/05
|
30/6/05
|
$217,500
|
$539,000
|
$328,000
|
$649,500
|
|
20/9/04
|
19/3/05
|
$217,500
|
$535,500
|
$328,000
|
$646,000
|
|
01/7/04
|
19/9/04
|
$217,500
|
$531,000
|
$328,000
|
$641,500
|
|
| |
|
Complying Income Streams Asset Test Exemptions
|
|
|
Centrelink will assess:
> Complying income streams purchased prior to 20 September 2004 as 100% asset test exempt;
> Complying income streams purchased between 20 September 2004 and 20 September 2007 as 50% asset test exempt. For Market Linked Income Streams it’s 50% of the account balance. For lifetime and life expectancy income streams it’s 50% of the original purchase price reduced periodically.
> Complying income streams purchased on or after 20 September 2007 as 100% assessable.
Refer to the DSS link below for more details
|
| |
|
Superannuation Income Stream – Centrelink Warning
|
|
|
Funds in accumulation mode inside super are not assessed by Centrelink until the superannuant reaches age pension age.
However once a superannuation income stream is started Centrelink will assess the fund balance and income stream irrespective of the superannuant’s age.
Regardless of age:
> An account based pension balance is assessed as an Asset.
> Account based pension payments in excess of the Centrelink ‘deductible amount’ are assessed as income.
|
|
|
|
This page was last edited on 18 September 2021
Fdbco.au - An Online Quick Reference Library for Tax Agents and Financial Planners
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