Allowable Income (No dependants)

The income threshold before the pension reduces by 50 cents in the dollar for singles and 25 cents in the dollar each for couples
(40 and 20 cents before 1/7/2009) is:

 

Date Single Couple
both eligible
Couple
one eligible
Couple
illness separated
1/7/2014 160.00 284.00 284.00 284.00
1/7/2013 156.00 276.00 276.00 276.00
1/7/2012 152.00 268.00 268.00 268.00
1/7/2011 150.00 264.00 264.00 264.00
1/7/2010 146.00 256.00 256.00 256.00
1/7/2009 142.00 248.00 248.00 248.00
1/7/2008 138.00 240.00 240.00 240.00
1/7/2007 132.00 232.00 232.00 232.00
1/7/2006 128.00 228.00 228.00 228.00
1/7/2005 124.00 220.00 220.00 220.00
1/7/2004 122.00 216.00 216.00 216.00

 

Each fortnight, the Work Bonus disregards up to $250 pf of the employment income earned by pensioners over age pension age (unless paid Parenting Payment). If employment income is less $250 pf, the unused Work Bonus is banked up to a maximim amount of $6,500 to discount future employment income that exceeds the $250 pf. It was announced in the May 2014 Budget that the income threshold will be fixed for 3 years from 1 July 2017.

Deeming Rates and Thresholds

 

Date Threshold Single Threshold Couple
1/7/2014 48,000 79,600
1/7/2013 46,600 77,400
1/7/2012 45,400 75,600
1/7/2011 44,600 74,400
1/7/2010 43,200 72,000
1/7/2009 42,000 70,000
1/7/2008 41,000 68,200
1/7/2007 39,400 65,400
1/7/2006 38,400 63,800
1/7/2005 37,200 62,000
1/7/2004 36,400 60,600
  Deeming Rate Lower Deeming Rate Higher
04/11/2013 2.0% 3.5%
20/3/2013 2.5% 4.0%
20/9/2012 3.0% 4.5%
20/3/2012 3.0% 4.5%
20/9/2011 3.0% 4.5%
20/3/2011 3.0% 4.5%
20/9/2010 3.0% 4.5%
20/3/2010 3.0% 4.5%
20/9/2009 2.0% 3.0%
20/3/2009 2.0% 3.0%
17/11/2008 3.0% 5.0%
20/9/2008 4.0% 6.0%
20/3/2008 4.0% 6.0%
20/9/2007 3.5% 5.5%
20/3/2007 3.5% 5.5%
20/9/2006 3.0% 5.0%
20/3/2006 3.0% 5.0%

It was announced in the May 2014 Budget that the income deeming thresholds will be reset to $30,000 for singles and $50,000 for couples from 30 September 2017.