Assessable income

What is assessable income?

Under the income test, assessable income is income which is used to work out what rate of payment you receive.

What income is assessed under the income test?

Examples of assessable income include:

• deemed income from financial investments
• gross income from earnings, including fringe benefits
• employment income salary sacrificed into superannuation
• net income from businesses, including farms
• family trust distributions or dividends from private company shares
• net income from rental property
• total net losses from rental property
• income from boarders and lodgers
• deemed income on money in superannuation funds if you have reached age pension age
• reportable superannuation contributions (salary sacrificed contributions)
• non-Australian pensions and income
• any income from sources outside Australia
• income from income stream products, such as annuities, allocated products and superannuation pensions.

How do I find out more information?

The Income and Assets Test Table provides information regarding the income or assets tests for the payments provided by Centrelink.

You may need to provide additional information about your income to Centrelink or the Family Assistance Office.

For more information on assessable income, contact your nearest Centrelink Customer Service Centre.