Pension Rates and means test Thresholds
Effective 1st July, 2024
| Pensions |
Single |
Couples Each |
Couples Combined |
| Per Fortnight |
$1,116.30 |
$841.40 |
$1,682.80 |
| Annual Total |
$29,023.80 |
$21,876.40 |
$43,752.80 |
Note: Couple's separated by illness (eg, one partner living in aged care) each receives the single rate: $2,232.60
Means Test
Home owners limits
| Asset test |
Home Owner Lower Limit |
Home Owner Upper Cut-off Limit |
| Single |
$ 314,000 |
$ 686,250 |
| Couples Combined |
$ 470,000 |
$ 1,031,000 |
Non-home owners limits
| Asset test |
Lower Limit |
Upper Cut-off Limit |
| Single |
$ 566,000 |
$ 938,250 |
| Couples Combined |
$ 722,000 |
$ 1,283,000 |
Income Test
| Income Test |
Income Per Fortnight before reduction |
Annual Income before reduction |
Upper Cut-off Limit per fortnight |
Upper Cut-off limit annual |
With Working Credit Bonus Including "Special" $4,000 |
| Single |
$ 212.00 |
$ 5,512.00 |
$ 2,444.60 |
$ 63,559.60 |
$ 75,359.60 |
| Couples combined |
$ 372.00 |
$ 9,672.00 |
$ 3,737.60 |
$ 97,177.60 |
$ 120,777.6 |
