Assets Test for single pension customers 108-03010090
Expand allThis document outlines how the Assets Test and the Income Test are used to establish the level of income support required by a person. The Assets Test establishes the level of a person's assessable assets and then, based on those assessable assets, calculates the person's entitlement.
Rates of pension payments based on asset test limits
From 1 January 2017, the rate of pension payable is reduced by $3.00 per fortnight for every $1,000 of assessable assets above the pensions assets free area. Prior to this this date, the taper was $1.50 but was previously $3.00 per $1,000 prior to 20 September 2007. For the pensions assets free area, see Pensions Asset Free Areas and disqualifying limits link on the Rates and thresholds page.
A potential pension rate is calculated under both the Income Test and Assets Test. The lowest rate calculated is the rate payable to the customer.
Different Assets Test rules apply to Parenting Payment Single (PPS) customers.
The procedures, Exempt Income and Exempt Assets, provide information about assessing income and assets that are exempt from the Income and Assets Test.
The Resources page contains a link to the Guide to Australian Government Payments, payment rates, an example of an assets test calculation, and historical information prior to 20 September 2007.
Related links
Income Test for single pension customers
Income Test for Disability Support Pension customer who is under 21 years with no children
Income, assets and rates of payment
Income and assets tests for blind customers
Transitional rules for pension customers who were on payment at 19 September 2009