Allowable Income (No dependants)
The income threshold before the pension reduces by 50 cents in the dollar is:
| Date |
Single |
Couple
both eligible |
Couple
one eligible |
Couple
illness separated |
| 1/7/2024 | 212.00 | 372.00 | 372.00 | 372.00 |
| 1/7/2023 | 204.00 | 360.00 | 360.00 | 360.00 |
| 1/7/2022 | 190.00 | 336.00 | 336.00 | 336.00 |
| 1/7/2021 | 180.00 | 320.00 | 320.00 | 320.00 |
| 1/7/2020 | 178.00 | 316.00 | 316.00 | 316.00 |
| 1/7/2019 | 174.00 | 308.00 | 308.00 | 308.00 |
| 1/7/2018 | 172.00 | 304.00 | 304.00 | 304.00 |
| 1/7/2017 | 168.00 | 300.00 | 300.00 | 300.00 |
Each fortnight, the Work Bonus disregards up to $300 pf of the active participation income earned by
pensioners over age pension age (unless paid Parenting Payment). If employment income is less
$300 pf, the unused Work Bonus is banked up to a maximim amount of $11,800 to discount future
employment income that exceeds the $300 pf. A temporary additional $4000 applies for the period 1/12/2022 to 31/12/2023. If the income stream commenced
on or before 31 December 2014 and the recipient is in continued receipt of income support payments since that date, the basis is annual payments minus a deductible amount. Otherwise the deemed basis is used.
Deeming Rates and Thresholds
| Date |
Threshold Single |
Threshold Couple |
| 1/7/2024 | 62,600 | 103,800 |
| 1/7/2023 | 60,400 | 100,200 |
| 1/7/2022 | 56,400 | 93,600 |
| 1/7/2021 | 53,600 | 89,000 |
| 1/7/2020 | 53,000 | 88,000 |
| 1/7/2019 | 51,800 | 86,200 |
| 1/7/2018 | 51,200 | 85,000 |
| 1/7/2017 | 50,200 | 83,400 |
| |
Deeming Rate Lower |
Deeming Rate Higher |
| 01/05/2020 | 0.25% | 2.25% |
| 01/07/2019 | 1.00% | 3.00% |
| 20/03/2015 | 1.75% | 3.25% |
| 04/11/2013 | 2.0% | 3.5% |
| 20/3/2013 | 2.5% | 4.0% |