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Allowable Income  


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
1/7/2021180.00320.00320.00320.00
1/7/2020178.00316.00316.00316.00
1/7/2019174.00308.00308.00308.00
1/7/2018172.00304.00304.00304.00
1/7/2017168.00300.00300.00300.00
1/7/2016164.00292.00292.00292.00
1/7/2015162.00288.00288.00288.00
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 $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 $7,800 to discount future employment income that exceeds the $300 pf.

If the income stream commenced on or before 31 December 2014 and the recipient is in contiunued 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
1/7/202153,60089,000
1/7/202053,00088,000
1/7/201951,80086,200
1/7/201851,20085,000
1/7/201750,20083,400
1/7/201649,20081,600
1/7/201548,60080,600
1/7/201448,00079,600
1/7/201346,60077,400
1/7/201245,40075,600
1/7/201144,60074,400
1/7/201043,20072,000
1/7/200942,00070,000
1/7/200841,00068,200
1/7/200739,40065,400
1/7/200638,40063,800
1/7/2005 37,200 62,000
1/7/2004 36,400 60,600
  Deeming Rate Lower Deeming Rate Higher
01/05/20200.25%2.25%
01/07/20191.00%3.00%
20/03/20151.75%3.25%
04/11/20132.0%3.5%
20/3/20132.5%4.0%
20/9/20123.0%4.5%
20/3/20123.0%4.5%
20/9/20113.0%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%

NetActuary P/L ABN 94108585164
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PO Box 750, Sandy Bay Tas 7006
Email: Brian@NetActuary.com.au
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