Assets test
We use the assets test to help us work out if you can be paid Age Pension, Carer Payment, Disability Support Pension, and how much you'll be paid.
We assess all asset types as part of the Assets test. There are limits to how much your assets can be worth before they affect how much you are paid. It will depend on your situation.
Your assets include any property or possessions you own in full, in part, or have an interest in, including:
- assets held outside Australia
- debts owed to you.
We review the assets test limits and cut off points in January, March, July and September each year.
If you are paid a full pension
From 1 July 2020, pensions reduce when your assets are more than the limit for your situation.
Your situation | Homeowner | Non-homeowner |
---|---|---|
Single | $268,000 | $482,500 |
A couple, combined | $401,500 | $616,000 |
A couple, separated due to illness, combined | $401,500 | $616,000 |
A couple, 1 partner eligible, combined | $401,500 |
$616,000 |
If you are paid a part pension
From 1 July 2020, part pensions cancel when your assets are over the cut off point for your situation.
Your situation | Homeowner | Non-homeowner |
---|---|---|
Single | $583,000 | $797,500 |
A couple, combined | $876,500 | 1,091,000 |
A couple, separated due to illness, combined | $1,031,500 | $1,246,000 |
A couple, 1 partner eligible, combined | $876,500 | $1,091,000 |
Your cut off point is higher if you are paid Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.
If you are paid a transitional rate of pension
From 1 July 2020, transitional rate pensions cancel when your assets are over your cut off point.
Your situation | Homeowner | Non-homeowner |
---|---|---|
Single | $531,250 | $745,750 |
A couple, combined | $826,500 | $1,041,000 |
A couple, separated due to illness, combined | $928,000 | $1,142,500 |
A couple, 1 partner eligible, combined | $826,500 | $1,041,000 |
Your cut off point is higher if you are paid Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.
If you are paid Disability Support Pension and are under 21 with no children
From 1 July 2020, Disability Support Pension cancels when your assets are over the cut off point for your situation.
Your situation | Homeowner | Non-homeowner |
---|---|---|
16 to 17 years, single dependent | $400,500 | $615,000 |
18 to 20 years, single dependent | $418,000 | $632,500 |
16 to 20 years, single independent | $471,250 | $685,750 |
16 to 20 years, couple combined | $806,000 | $1,020,500 |
The cut off point is higher if you are paid Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.
If you need other help
If your pension is rejected, cancelled or less than the maximum rate because of the assets test, you may receive help from either:
Page last updated: 6 January 2021
This information was printed 12 January 2021 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/age-pension/who-can-get-it/assets-test. 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.