Age Pension - Deeming Rates and Thresholds

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $56,400	0.25%
	Above $56,400	2.25%
Allowee Couple - per person (1)	$0 - $46,800	0.25%
	Above $46,800	2.25%
Pensioner Couple - combined (2)	$0 - $93,600	0.25%
	Above $93,600	2.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $53,600	0.25%
	Above $53,600	2.25%
Allowee Couple - per person (1)	$0 - $44,500	0.25%
	Above $44,500	2.25%
Pensioner Couple - combined (2)	$0 - $89,000	0.25%
	Above $89,000	2.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

If the only income and financial assets that you have are those subject to deeming, then the maximum financial assets you can have to receive the full pension and satisfy the Income Means Test are as follows:

 1 July 2020 to 30 June 2021

 Income means test

 Single - $252,800 (Based on the Assets Test the threshold is $268,000)

 Couple - $443,377 (Based on the Assets Test the threshold is $401,500)

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $53,000	0.25%
	Above $53,000	2.25%
Allowee Couple - per person (1)	$0 - $44,000	0.25%
	Above $44,000	2.25%
Pensioner Couple - combined (2)	$0 - $88,000	0.25%
	Above $88,000	2.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $51,800	0.25%
	Above $51,800	2.25%
Allowee Couple - per person (1)	$0 - $43,100	0.25%
	Above $43,100	2.25%
Pensioner Couple - combined (2)	$0 - $86,200	0.25%
	Above $86,200	2.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

The normal deeming rules will be extended to super account based income streams for new account based income streams assessed under the pension income test rules after 1 January 2015.  All superannuation pensions held before 1 January 2015 will be grandfathered indefinitely and will continue to be assessed under the existing rules for the life of the product – no current pensioner will be affected unless they choose to change products or otherwise become ineligible for the pension – even for just one fortnight.

 

Pensioners who have account based pensions that are “grandfathered” under the income test should be careful if reorganising their investments or taking on casual work.  If a no DHS payment is made for a whole pay period, the person loses their “grandfathered” income test on their account based income stream.  Some people seem to be under the misconception they lose grandfathered status only if no payment has been made for 6 consecutive fortnights.

Refer to the links below for a detailed discussion.
 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $51,800	1.0%
	Above $51,800	3.0%
Allowee Couple - per person (1)	$0 - $43,100	1.0%
	Above $43,100	3.0%
Pensioner Couple - combined (2)	$0 - $86,200	1.0%
	Above $86,200	3.0%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $51,200	1.75%
	Above $51,200	3.25%
Allowee Couple - per person (1)	$0 - $42,500	1.75%
	Above $42,500	3.25%
Pensioner Couple - combined (2)	$0 - $85,000	1.75%
	Above $85,000	3.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

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%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $49,200	1.75%
	Above $49,200	3.25%
Allowee Couple - per person (1)	$0 - $40,800	1.75%
	Above $40,800	3.25%
Pensioner Couple - combined (2)	$0 - $81,600	1.75%
	Above $81,600	3.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 1 July 2015 to 30 June 2016

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $48,600	1.75%
	Above $48,600	3.25%
Allowee Couple - per person (1)	$0 - $40,300	1.75%
	Above $40,300	3.25%
Pensioner Couple - combined (2)	$0 - $80,600	1.75%
	Above $80,600	3.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 20 March 2015 to 30 June 2015

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $48,000	1.75%
	Above $48,000	3.25%
Allowee Couple - per person (1)	$0 - $39,800	1.75%
	Above $39,800	3.25%
Pensioner Couple - combined (2)	$0 - $79,600	1.75%
	Above $79,600	3.25%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 1 July 2014 to 19 March 2015

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $48,000	2.0%
	Above $48,000	3.5%
Allowee Couple – per person (1)	$0 - $39,800	2.0%
	Above $39,800	3.5%
Pensioner Couple – combined (2)	$0 - $79,600	2.0%
	Above $79,600	3.5%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 4 November 2013 – 30 June 2014

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $46,600	2.0%
	Above $46,600	3.5%
Allowee Couple – per person (1)	$0 - $38,700	2.0%
	Above $38,700	3.5%
Pensioner Couple – combined (2)	$0 - $77,400	2.0%
	Above $77,400	3.5%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 1 July 2013 to 3 November 2013

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $46,600	2.5%
	Above $46,600	4%
Allowee Couple – per person (1)	$0 - $38,700	2.5%
	Above $38,700	4%
Pensioner Couple – combined (2)	$0 - $77,400	2.5%
	Above $77,400	4%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA age pensions.

From 20 March 2013 to 30 June 2013

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $45,400	2.5%
	Above $45,400	4%
Couple - per person (1)	$0 - $37,800	2.5%
	Above $37,800	4%
Couple - combined (2)	$0 - $75,600	2.5%
	Above $75,600	4%

(1) Neither is receiving a pension.

(2) At least one person is receiving the pension.

The deeming rates apply to both Centrelink and DVA pensions.

From 1 July 2012 to 19 March 2013

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $45,400	3%
	Above $45,400	4.5%
Couple - per person (1)	$0 - $37,800	3%
	Above $37,800	4.5%
Couple - combined (2)	$0 - $75,600	3%
	Above $75,600	4.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

#From 1 July 2011 to 30 June 2012

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $44,600	3%
	Above $44,600	4.5%
Couple - per person (1)	$0 - $37,200	3%
	Above $37,200	4.5%
Couple - combined (2)	$0 - $74,400	3%
	Above $74,400	4.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2010 to 30 June 2011

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $43,200	3%
	Above $43,200	4.5%
Couple - per person (1)	$0 - $36,000	3%
	Above $36,000	4.5%
Couple - combined (2)	$0 - $72,000	3%
	Above $72,000	4.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

   

From 20 March 2010 to 30 June 2010

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $42,000	3%
	Above $42,000	4.5%
Couple - per person (1)	$0 - $35,000	3%
	Above $35,000	4.5%
Couple - combined (2)	$0 - $70,000	3%
	Above $70,000	4.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2009 to 19 March 2010

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $42,000	2%
	Above $42,000	3%
Couple - per person (1)	$0 - $35,000	2%
	Above $35,000	3%
Couple - combined (2)	$0 - $70,000	2%
	Above $70,000	3%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

   

 

From 20 March 2009 to 30 June 2009

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $41,000	2%
	Above $41,000	3%
Couple - per person (1)	$0 - $34,100	2%
	Above $34,100	3%
Couple - combined (2)	$0 - $68,200	2%
	Above $68,200	3%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 26 January 2009 to 19 March 2009

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $41,000	3%
	Above $41,000	4%
Couple - per person (1)	$0 - $34,100	3%
	Above $34,100	4%
Couple - combined (2)	$0 - $68,200	3%
	Above $68,200	4%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 17 November 2008 to 25 January 2009

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $41,000	3%
	Above $41,000	5%
Couple - per person (1)	$0 - $34,100	3%
	Above $34,100	5%
Couple - combined (2)	$0 - $68,200	3%
	Above $68,200	5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

 

From 1 July 2008 to 16 November 2008

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $41,000	4%
	Above $41,000	6%
Couple - per person (1)	$0 - $34,100	4%
	Above $34,100	6%
Couple - combined (2)	$0 - $68,200	4%
	Above $68,200	6%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

   

From 20 March 2008 to 30 June 2008

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $39,400	4%
	Above $39,400	6%
Couple - per person (1)	$0 - $32,700	4%
	Above $32,700	6%
Couple - combined (2)	$0 - $65,400	4%
	Above $65,400	6%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2007 to 19 March 2008

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $39,400	3.5%
	Above $39,400	5.5%
Couple - per person (1)	$0 - $32,700	3.5%
	Above $32,700	5.5%
Couple - combined (2)	$0 - $65,400	3.5%
	Above $65,400	5.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

   

From 20 March 2007 to 30 June 2007

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $38,400	3.5%
	Above $38,400	5.5%
Couple - per person (1)	$0 - $31,900	3.5%
	Above $31,900	5.5%
Couple - combined (2)	$0 - $63,800	3.5%
	Above $63,800	5.5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2006 to 19 March 2007

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $38,400	3%
	Above $38,400	5%
Couple - per person (1)	$0 - $31,900	3%
	Above $31,900	5%
Couple - combined (2)	$0 - $63,800	3%
	Above $63,800	5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2005 to 30 June 2006

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $37,200	3%
	Above $37,200	5%
Couple - per person (1)	$0 - $31,000	3%
	Above $31,000	5%
Couple - combined (2)	$0 - $62,000	3%
	Above $62,000	5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

From 1 July 2004 to 30 June 2005

 

Family Situation	Assets Threshold	Rate of Deemed Income
Single	$0 - $36,400	3%
	Above $36,400	5%
Couple - per person (1)	$0 - $30,300	3%
	Above $30,300	5%
Couple - combined (2)	$0 - $60,600	3%
	Above $60,600	5%

 

(1) Neither is receiving a pension.

 

(2) At least one person is receiving the pension.

 

The deeming rates apply to both Centrelink and DVA pensions.

 

Deeming Rates

 

From	Low Rate	High Rate
1 July 2004	See above	See above
20 March 2004	3.0%	5.0%
20 March 2002	2.5%	4.0%
1 July 2001	3.0%	4.5%
20 March 2000	3.5%	5.5%
1 September 1999	3.0%	4.5%
20 September 1997	3.0%	5.0%

 

 

Thresholds

 

From	Single	Partnered (each)
1 July 2004	See above	See above
1 July 2003	$35,600	$29,700
1 July 2002	$34,400	$28,700
1 July 2001	$33,400	$27,900
1 July 2000	$31,600	$26,300
1 July 1999	$30,800	$25,600
1 July 1998	$30,400	$25,300