Assets Test for partnered pension customers 108-03010100
Expand allThis document outlines how the Assets Test is one of two Means Tests (the Income Test is the other) 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, based on those assessable assets, calculates that person's entitlement.
Rate of pension payable
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 pension assets free area. Prior to this date the taper rate was $1.50, but was previously $3.00 prior to 20 September 2007. For the pension assets free area, see the Pension - assets free areas and Pension - disqualifying assets limits links on the Rates and thresholds page. For partnered pensioners, this reduction is applied half each.
A potential pension rate is calculated under both the Income and Assets Tests respectively, with the one resulting in the lowest rate of pension being applicable to that couple.
Customers receiving Age Pension (Blind) or Disability Support Pension (DSP) (Blind) may be exempt from the Means Test, but income and assets details are required to determine the partner's entitlement to payments or their entitlement to rent assistance.
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 and an example of using the Assets Test to work out a customer's member of a couple pension rate. It also contains historical rate information that existed immediately prior to 1 January 2017 and 20 September 2007.
Related links
Assessment of assets for Centrelink payments
Income, assets and rates of payment
Income and assets tests for blind customers