Reset the Assets Test Deeming Rate Thresholds

From 20 September 2017 the deeming provision thresholds for payments which are means tested will be reset to $30 000 for singles and $50 000 for couples (for both pensioners and allowees).

This measure is subject to the passage of legislation.

Description of the measure

From 20 September 2017 the deeming provision thresholds for payments which are means tested will be reset to $30,000 for singles and $50,000 for couples (for both pensioners and allowees). The current thresholds are $46,600 for singles, $77,400 for pensioner couples and $38,700 for members of allowee couples.

Questions and answers

Who will be affected by this measure?

This measure will impact recipients of Age Pension, Disability Support Pension, Carer Payment, Wife Pension, Widow B Pension and Bereavement Allowance and equivalent Veterans’ Affairs pension payments as well Parenting Payment Single, Youth Allowance, Austudy, Newstart Allowance, Parenting Payment Partnered, Widow Allowance, Sickness Allowance and Partner Allowance.

Am I eligible for this measure?

This will automatically impact all affected payments.

When will this measure start and finish?

This measure will start on 20 September 2017 and will be ongoing.

Page last updated: 16 March 2016

This information was printed Wednesday 28 September 2016 from humanservices.gov.au/corporate/budget/budget-2014-15/budget-measures/disability-and-carers/reset-assets-test-deeming-rate-thresholds It may not include all of the relevant information on this topic. Please consider any relevant site notices at humanservices.gov.au/siteinformation when using this material.