| Pensions Asset and Income Limits and Allowance Asset Limits |
1-Jul-09 | |||||
| Pension Disqualifying Asset Limits | ||||||
| Family Situation | Previous Amount | 1 July 2009 | increase | |||
| Single, homeowner | $ 555,750 | $ 562,000 | $ 6,250 | |||
| Single, non-homeowner | $ 680,250 | $ 691,000 | $ 10,750 | |||
| Partnered, homeowner (combined) | $ 882,500 | $ 891,500 | $ 9,000 | |||
| Partnered, non-homeowner (combined) | $ 1,007,000 | $ 1,020,500 | $ 13,500 | |||
| One partner eligible, homeowner | $ 882,500 | $ 891,500 | $ 9,000 | |||
| One partner eligible, non-homeowner | $ 1,007,000 | $ 1,020,500 | $ 13,500 | |||
| Illness separated couple, homeowner | $ 1,011,500 | $ 1,020,500 | $ 9,000 | |||
| Illness separated couple, non-homeowner | $ 1,136,000 | $ 1,149,500 | $ 13,500 | |||
| ‡ Disqualifying Asset Limits include consideration for Pharmaceutical Allowance |
||||||
| Pension Asset Free Areas | ||||||
| Homeowners | Previous Amount | 1 July 2009 | increase | |||
| Family Situation | ||||||
| Single | $ 171,750 | $ 178,000 | $ 6,250 | |||
| Partnered (combined) | $ 243,500 | $ 252,500 | $ 9,000 | |||
| Illness Separated couple (combined) | $ 243,500 | $ 252,500 | $ 9,000 | |||
| Non-Homeowners | ||||||
| Family Situation | ||||||
| Single | $ 296,250 | $ 307,000 | $ 10,750 | |||
| Partnered (combined) | $ 368,000 | $ 381,500 | $ 13,500 | |||
| Illness Separated couple (combined) | $ 368,000 | $ 381,500 | $ 13,500 | |||
| Retirement Village & Granny Flat Residents | ||||||
| Extra Allowable Amount | $ 124,500 | $ 129,000 | $ 4,500 | |||
| Special Disability Trust | ||||||
| Concessional Asset Value Limit | $ 532,000 | $ 551,750 | $ 19,750 | |||
| Exempt Funeral Investment | ||||||
| Exempt Funeral Investment Threshold | $ 10,250 | $ 10,750 | $ 500 | |||
| Pension Disqualifying Income Limits – Fortnightly | ||||||
| Family Situation | Previous Amount | 1 July 2009 | increase | |||
| Single | $ 1,577.50 | $ 1,581.50 | $ 4.00 | pf | ||
| Single + 1 child | $ 1,602.10 | $ 1,606.10 | $ 4.00 | pf | ||
| Couple (combined) | $ 2,634.50 | $ 2,642.50 | $ 8.00 | pf | ||
| For each Additional Child add | $ 24.60 | $ 24.60 | nil | pf | ||
| Illness Separated couple (combined) | $ 3,119.00 | $ 3,127.00 | $ 8.00 | pf | ||
| ‡ Disqualifying Income Limits include consideration for Pharmaceutical Allowance |
||||||
| Pension Income Free Areas – Fortnightly | ||||||
| Family Situation | Previous Amount | 1 July 2009 | increase | |||
| Single | $ 138.00 | $ 142.00 | $ 4.00 | pf | ||
| Single + 1 child | $ 162.60 | $ 166.60 | $ 4.00 | pf | ||
| Couple (combined) | $ 240.00 | $ 248.00 | $ 8.00 | pf | ||
| For each Additional Child add | $ 24.60 | $ 24.60 | nil | pf | ||
| Illness Separated couple (combined) | $ 240.00 | $ 248.00 | $ 8.00 | pf | ||
| Disability Support Pension Under 21 Disqualifying Income Limits |
||||||
| Previous Amount | 1 July 2009 | increase | ||||
| Single, under 18, at home, no child limits | $ 924.00 | $ 928.00 | $ 4.00 | pf | ||
| Single, under 18, independent, no child limits | $ 1,344.25 | $ 1,348.25 | $ 4.00 | pf | ||
| Single, 18 – 20, at home, no child limits | $ 1,026.75 | $ 1,030.75 | $ 4.00 | pf | ||
| Single, 18 – 20, independent, no child limits | $ 1,344.25 | $ 1,348.25 | $ 4.00 | pf | ||
| Couple, under 18 (combined) | $ 2,634.50 | $ 2,642.50 | $ 8.00 | pf | ||
| Couple, 18 – 20 (combined) | $ 2,634.50 | $ 2,642.50 | $ 8.00 | pf | ||
| Disability Support Pension Under 21 – Disqualifying Asset Limits |
||||||
| Homeowners | Previous Amount | 1 July 2009 | increase | |||
| Single under 18, at home | $ 381,500 | $ 387,750 | $ 6,250 | |||
| Single under 18, independent | $ 493,500 | $ 499,750 | $ 6,250 | |||
| Single 18-20, at home | $ 408,750 | $ 415,000 | $ 6,250 | |||
| Single 18-20, independent | $ 493,500 | $ 499,750 | $ 6,250 | |||
| Couple under 18 (combined) | $ 882,500 | $ 891,500 | $ 9,000 | |||
| Couple 18-20 (combined) | $ 882,500 | $ 891,500 | $ 9,000 | |||
| Non-Homeowners | Previous Amount | 1 July 2009 | increase | |||
| Single under 18, at home | $ 506,000 | $ 516,750 | $ 10,750 | |||
| Single under 18, independent | $ 618,000 | $ 628,750 | $ 10,750 | |||
| Single 18-20, at home | $ 533,250 | $ 544,000 | $ 10,750 | |||
| Single 18-20, independent | $ 618,000 | $ 628,750 | $ 10,750 | |||
| Couple under 18 (combined) | $ 1,007,000 | $ 1,020,500 | $ 13,500 | |||
| Couple 18-20 (combined) | $ 1,007,000 | $ 1,020,500 | $ 13,500 | |||
| Deeming Thresholds | ||||||
| Previous Amount | 1 July 2009 | increase | ||||
| Single | $ 41,000 | $ 42,000 | $ 1,000 | |||
| Partnered (combined) | $ 68,200 | $ 70,000 | $ 1,800 | |||
| Primary Production Attribution Thresholds | ||||||
| Previous Amount | 1 July 2009 | increase | ||||
| Assets | $ 968,250 | $ 1,004,000 | $ 35,750 | |||
| Income | $ 42,559 | $ 44,165 | $ 1,606 | |||
| Adult Allowances | 1-Jul-09 | |||||
| Assets Test for Allowance (Independent) | ||||||
| Homeowners | Previous Amount | 1 July 2009 | increase | |||
| Family Situation | ||||||
| Single | $ 171,750 | $ 178,000 | $ 6,250.00 | pf | ||
| Partnered (combined) | $ 243,500 | $ 252,500 | $ 9,000.00 | pf | ||
| Non-Homeowners | ||||||
| Family Situation | ||||||
| Single | $ 296,250 | $ 307,000 | $ 10,750.00 | pf | ||
| Partnered (combined) | $ 368,000 | $ 381,500 | $ 13,500.00 | pf | ||
© Commonwealth of Australia 2007. | Last modified 30 June 2009.
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Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 799 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis
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