Service Pension Income and Assets Limits | Compensation and Support Reference Library, Payment Rates, Historical Payment Rates, pre 2011, VEA Rates History, 2010, September 2010

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Service Pension Income and Assets Limits

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For pensions assessed under the pre-20 September 2009 rules, refer to the “Transitional Service Pension and ISS Rates and Limits” table

 

Ordinary/adjusted income free area

 

Income per fortnight

Not a member of a couple

$146.00

Partnered – combined

(including illness separated and respite care)

$256.00

 

Income Test Taper rate

Prior to 01/07/2000

50 cents in the dollar

1/7/2000 to 19/9/2009

40 cents in the dollar

20/9/2009

50 cents in the dollar

 

Work Bonus

Employment income concession amount

$500.00

 

Adjusted income at which ISS reduces

Includes WWP.

 

Income per fortnight

Not a member of a couple

$1,145.00

Partnered – combined

$1,548.80

Illness separated – combined

$2,254.00

 

Income at which minimum payment paid

 

Income per fortnight

Not a member of a couple

$1,516.20

Partnered – combined

$2,321.60

Illness separated – combined

$2,996.40

 

Income at which SP/Age/ISS ceases

 

*Basic pension

#Maximum RA

Not a member of a couple

$1,578.20

$1,808.60

Partnered – combined

$2,415.20

$2,632.40

Illness separated – combined

$3,120.40

$3,581.20

Ceiling rate – veteran widows

$1,578.20

$1,808.60

Ceiling rate – partnered

$2,415.20

$2,632.40

Ceiling rate – Illness separated – part.

$3,120.40

$3,581.20

* Include WWP amount for ISS income limit calculation.

# Child-related RA paid with Family Tax Benefit.

 

Income at which DVA treatment (SP) ceases

 

Income per fortnight

Not a member of a couple

$362.40

Partnered – each

$314.20

Partnered – combined

$628.40

 

Seniors health card taxable income limit

Annual taxable income limit.  Date of effect 01/07/2001.

 

Income Limit

Not a member of a couple

(including illness separated and respite care - each)

$50,000

Partnered – each

$40,000

This limit increases with dependent children

 

Assets value limit

 

Low limit

Homeowner

High limit

Non-homeowner

Not a member of a couple

$181,750

$313,250

Partnered – each

(including illness separated and respite care)

$129,000

$194,750

 

Assets Test Taper rate

1985 to 19/09/1993

$1.00 per $250

20/09/1993 to 19/9/2007

75 cents per $250

from 20/9/2007

37.5 cents per $250

 

Assets at which ISS reduces

 

Low limit

Homeowner

High limit

Non-homeowner

Not a member of a couple

$514,750

$646,250

Partnered – combined

$689,000

$820,500

Illness separated – combined

$924,000

$1,055,500

 

Assets at which minimum payment paid

 

Low limit

Homeowner

High limit

Non-homeowner

Not a member of a couple

$638,500

$770,000

Partnered – combined

$947,000

$1,078,500

Illness separated – combined

$1,171,500

$1,303,000

 

Assets at which SP/Age/ISS ceases

 

Low limit

Homeowner

High limit

Non-homeowner

Not a member of a couple

$659,250

$790,750

Partnered – combined

$978,000

$1,109,500

Illness separated – combined

$1,213,000

$1,344,500

 

Assets at which DVA treatment SP ceases

 

Low limit
High limit

Not a member of a couple

$254,000

$385,500

Partnered – combined

$382,500

$514,000

 

Special disability trust

Asset value limit

$563,250