Updated 19 September 2023: Changes to part pension income and asset thresholds will take effect from 20 September 2023 through to 19 March 2024. Full Age Pension limits are current between 1 July 2023 and 30 June 2024.
Below are the new limits that will apply to you:
Centrelink income test limits for Age Pensions
Situation
Full Age Pension (max earnings allowed per fortnight)
Part Age Pension (max earnings allowed per fortnight)
Single
up to $204
less than $2397.40
Couple (combined)
up to $360
less than $3666.80
Illness separated (couple combined)
up to $360
less than $4746.80
Note: Full Age Pension limits are current between 1 July 2023 and 30 June 2024. Part Age Pension limits current from 20 September 2023.
Centrelink asset test limits for full Age Pensions – effective from 20 March 2023
Situation
Homeowners
Non-homeowners
Single
$301,750
$504,500
Couple (combined)
$451,500
$693,500
Illness separated (couple combined)
$419,000
$693,500
Note: Limits current between 1 July 2023 and 30 June 2024.
Centrelink asset test limits for part Age Pensions – effective from 20 September 2023
Situation
Homeowners
Non-homeowners
Single
$667,500
$909,500
Couple (combined)
$1,003,000
$1,245,000
Illness separated (couple combined)
$1,183,000
$1,425,000
Note: Limits current from 20 September 2023.
Centrelink income test limits for transitional part Age Pensions – effective from 20 September 2023
Situation
Single
less than $2471.00
Couple (combined)
less than $4018.00
Illness separated (couple combined)
less than $4453.00
Note: Limits current from 20 September 2023.
Centrelink asset test limits for transitional part Age Pensions – effective from 20 September 2023
Situation
Homeowners
Non-homeowners
Single
$604,250
$846,250
Couple (combined)
$939,500
$1,181,500
Illness separated (couple combined)
$1,056,500
$1,298,500
Note: Limits current from 20 September 2023.
Centrelink deeming thresholds – effective from 1 July 2023
My usual fortnightly payment arrived in my bank account this morning, no increase included in it.
They said today was the day but unfortunately not for me…..don’t know why!!
Our two couples pensions arrived today, no increase. Centrelink website says next fortnight’s payment is the same, no increase. So not only have costs gone up significantly while they have been thinking about the possible increase, we are looking at no increased payments in September. What a joke. People are paid good money to administer the AP, you’d think they could get it right.
My usual fortnightly payment arrived in my bank account this morning, no increase included in it.
They said today was the day but unfortunately not for me…..don’t know why!!
Our two couples pensions arrived today, no increase. Centrelink website says next fortnight’s payment is the same, no increase. So not only have costs gone up significantly while they have been thinking about the possible increase, we are looking at no increased payments in September. What a joke. People are paid good money to administer the AP, you’d think they could get it right.
Looks like we my have jumped the gun. Seems like the Sept 19 payment is at the old rate and then the increase cuts in. Better not spend it yet.
Check your numbers. For a start the deeming rates are old figures.
From Sept 23 the thresholds are $60,400. …no change from current figures.
It looks like Assets test rates have reduced from what I have read so does this mean that they are going to reduce our pensions?