Deeming rates are lowering on 1 May 2020
18 March 2020
When the deeming rate lowers, your payment amount may increase.
We use a 2 tiered deeming rate to work out income from your financial assets. The rate that applies to you depends on the value of your financial assets.
On 1 May 2020 the deeming rates will drop from:
- 1.0% to 0.25% for the lower tier
- 3% to 2.25% for the higher tier.
These changes are part of the Australian Government’s response to coronavirus (COVID-19), announced on 22 March 2020.
Read about how we work out your deemed income, based on your circumstances.
You don’t need to do anything. If you have deemed income, we’ll apply the new deeming rates. You may then see a change in your regular payment rate.
This will help make sure you get the right amount of Family Tax Benefit (FTB) and Child Care Subsidy (CCS).
Here are some ways to protect your online information when you use public internet.
Page last updated: 9 April 2020
This information was printed 30 May 2020 from https://www.servicesaustralia.gov.au/individuals/news/deeming-rates-are-lowering-1-may-2020. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.