Assets test
This assets test is effective from 1 July 2010. This information applies to all pensions, allowances and to Austudy payment.
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Chart A - Assets test for homeowners
Assets test for homeowners
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| Single** | up to $181,750 | less than $649,250 |
| Couple (combined) | up to $258,000 | less than $963,000 |
| Illness separated (couple combined) | up to $258,000 | less than $1,193,000 |
| One partner eligible (combined assets) | up to $258,000 | less than $963,000 |
Transitional homeowner
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| Single | $181,750 | less than $604,750 |
| Couple (combined) | $258,000 | less than $941,500 |
| Illness separated (couple combined) | $258,000 | less than $1,104,000 |
| One partner eligible (combined assets) | $258,000 | less than $941,500 |
Assets test for DSP under 21 - homeowners
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| i) DSP under 21 single - not independent | ||
| 16–17 years | $181,750 | less than $394,500 |
| 18–20 years | $181,750 | less than $422,500 |
| ii) DSP under 21 single-independent | ||
| $181,750 | less than $508,250 | |
| iii) DSP under 21 couple (combined) | ||
| $258,000 | less than $907,000 | |
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Chart B - Assets test for non-homeowners
Assets test for non-homeowners
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| Single** | up to $313,250 | less than $780,750 |
| Couple (combined) | up to $389,500 | less than $1,094,500 |
| Illness separated (couple combined) | up to $389,500 | less than $1,324,500 |
| One partner eligible (combined assets) | up to $389,500 | less than $1,094,500 |
Transitional non-homeowner
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| Single | $313,250 | less than $736,250 |
| Couple (combined) | $389,500 | less than $1,073,000 |
| Illness separated (couple combined) | $389,500 | less than $1,235,500 |
| One partner eligible (combined assets) | $389,500 | less than $1,073,000 |
Asset test for DSP under 21 - non-homeowners
| Family situation | For full pension/allowance* | For part pension# |
|---|---|---|
| i) DSP under 21 single - not independent | ||
| 16–17 years | $313,250 | less than $526,000 |
| 18–20 years | $313,250 | less than $554,000 |
| ii) DSP under 21 single-independent | ||
| $313,250 | less than $639,750 | |
| iii) DSP under 21 couple (combined) | ||
| $389,500 | less than $1,038,500 | |
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Note: Some assets are deemed to earn income, while certain assets are not included in the assets test. Contact Centrelink for more information.
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 pension.
* Assets over these amounts reduce your pension by $1.50 per fortnight for every $1,000 above the limit (single and couple combined). Newstart Allowance/Widow Allowance/Partner Allowance/Sickness Allowance/Special Benefit/Parenting Payment/Youth Allowance/ABSTUDY and Austudy payments are not payable if assets exceed these amounts.
Asset and income limits for transitional rate and saved case customers apply to customers who are resident in Australia or are not absent for more than 13 weeks only. For other cases, contact Centrelink for more information.
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 $131,500.
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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