Assets test
This assets test is effective from 1 January 2012. This information applies to all pensions, allowances and to Austudy payment.
On this page
Chart A - assets test limits for Allowances and Full Pensions
| Family situation | For Homeowners | For Non-homeowners |
|---|---|---|
| Single | $186,750 | $321,750 |
| Couple (combined) | $265,000 | $400,000 |
| Illness separated (couple combined) | $265,000 | $400,000 |
| One partner eligible (combined assets) | $265,000 | $400,000 |
Some assets are deemed to earn income, while certain assets are not included in the assets test. Contact Centrelink for more information.
- The assets test limits above also apply to the transitional rate of pension.
- Allowances, Austudy and Parenting Payment are not payable if assets exceed these amounts.
- For pensions, assets over these amounts reduce pension by $1.50 per fortnight for every $1,000 above the amount (single and couple combined). Refer to Chart B.
Chart B - assets test limits for Part Pensions#
| For part pension assets must be less than | ||
|---|---|---|
| Family situation | For Homeowners | For Non-homeowners |
| Single | $686,000 | $821,000 |
| Couple (combined) | $1,018,000 | $1.153,000 |
| Illness separated (couple combined) | $1,263,500 | $1,398,500 |
| One partner eligible (combined assets) | $1,018,000 | $1,153,000 |
| Transitional homeowner | ||
| Family situation | For Homeowners | For Non-homeowners |
| Single | $631,750 | $766,750 |
| Couple (combined) | $983,500 | $1,118,500 |
| Illness separated (couple combined) | $1,155,000 | $1,290,000 |
| One partner eligible (combined assets) | $983,500 | $1,118,500 | Assets test for DSP under 21 (no children) |
| Family situation | For Homeowners | For Non-homeowners |
| i) Single - dependent | ||
| 16–17 years | $414,000 | $549,000 |
| 18–20 years | $443,750 | $578,750 |
| ii) Single - independent | ||
| 16-20 years | $535,500 | $670,500 |
| iii) Couple (combined) | ||
| 16-20 years | $958,500 | $1,093,500 |
Some assets are deemed to earn income, while certain assets are not included in the assets test. Contact Centrelink for more information.
- Note: the rate of payment is calculated under both the income and assets tests. The test that results in the lower rate (or nil rate) will apply.
- #Limits will increase if Rent Assistance is paid with your allowance or pension.
- The assets and income limits in Charts A and B may only apply to people who are resident in Australia, or are temporarily absent from Australia for up to 13 weeks. Contact Centrelink for more information.
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Extra allowable amount for retirement village and granny flat residents
If your entry contribution is equal to or less than the extra allowable amount at the time of entry, you are assessed as a non-homeowner. Your entry contribution will count as an asset. You may qualify for Rent Assistance. The extra allowable amount is the difference between the non-homeowner and the homeowner asset test limits, currently $135,000.
Hardship provisions
If you have assets but little or no income you are expected to rearrange your affairs to provide for yourself. In some cases that is not possible. If you are in 'severe financial hardship' you may be able to get an income support payment. Different tests apply to such cases.
More information
For details of assets we assess, refer to the assets page.
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