Budget 2009-10 - Pension Review Report

Single: $562.10 pf
Partnered: $469.50 (each) pf

Single disability support pensioner under 21, no children

(Youth Allowance plus Youth Disability Supplement of $105.10 pf, total cannot exceed adult disability support pensioner rate):

<18, at home: $308.40 pf
18–20, at home: $349.50 pf
16–20 independent: $476.50 pf
Member of a couple: $469.50 pf

Rates are adjusted each March and September in line with increases in the CPI. Single adult pension rates are also benchmarked against 25 per cent of Male Total Average Weekly Earnings, with a proportional flow-on to partnered rates.

Pensions are taxable, except for Disability Support Pension and Invalidity Service Pension paid to people under Age Pension age, and Carer Payment and Wife Pension spouse where the person being cared for or the spouse is receiving a non-taxable pension.

Free area:

Single $138 pf
($3,588 pa)
Couple $240 pf
combined ($6,240 pa)
plus $24.60 per additional child pf

Taper:

Singles: 40 per cent of income above free area

Couples: 20 per cent of combined income above free area for each member of couple

Cut-out:

Single $1,558.25 pf ($40,514.50 pa)

Couple $2,602.50 pf combined ($67,665 pa)

Working Credit available if aged under Age Pension age.

Income test does not apply to a permanently blind person receiving Age, Service or Disability Support Pension.

Some income types are subject to different arrangements (for example, compensation payments may be deducted directly from the rate otherwise payable).

Home owners for full pension:

Single: $171,750
Partnered (combined): $243,500

Non-home owners for full pension:

Single: $296,250
Partnered (combined): $368,000

Assets over the limit reduce pensions by $1.50 a fortnight for every $1,000 above the threshold (single and couple combined).

Home owners for part pension:

Single: $550,500
Partnered (combined): $873,500

Non-home owners for part pension:

Single: $675,000
Partnered (combined): $998,000

(Amounts are higher if receiving Rent Assistance or separated due to illness.)

Assets test does not apply to a permanently blind person receiving Age, Service or Disability Support Pension.