Social Security Rates & Thresholds At 1 July 2012

Below is information on the key social security benefits and the relevant thresholds applying at 1 July 2012.

 

Maximum fortnightly pension rates:
Under current rules

• Single: $755.50 (including Pension Supplement amount)
• Couples (each): $569.50

Under transitional rules

• Single: $671.20
• Couples (each): $542.00

Maximum fortnightly newstart allowance rates

• Single, 21 or over, no children: $489.70
• Couples (each): $442.00

Assets test for homeowners

Family Situation	For full pension / allowance	For part pension
	Current and Transitional rules	Current rules	Transitional rules
Single	$192,500	$696,250	$640,000
Couple	$273,000	$1,032,500	$996,000
Illness separated couple	$273,000	$1,280,500	$1,168,000

Assets test for non-homeowners

Family Situation	For full pension / allowance	For part pension
	Current and Transitional rules	Current rules	Transitional rules
Single	$332,000	$835,750	$779,500
Couple	$412,500	$1,172,000	$1,135,500
Illness separated couple	$412,500	$1,420,000	$1,307,500

Income tests for pensions – fortnightly

Family Situation	For full pension	For part pension
	Current and Transitional rules	Current rules	Transitional rules
Single	$152	$1,663	$1,830
Couple	$268	$2,546	$2,978
Illness separated couple	$268	$3,290	$3,624

Thresholds for deeming of financial investments:
Current rate for deeming is 3% pa on financial investments up to the threshold noted below:

• single: $45,400
• couples (combined): $75,600

For financial investments over the threshold, the rate for deeming is 4.5% pa.