Assets test

The assets test helps us work out if you’re eligible for a payment and how much you can get.

We assess all asset types as part of the assets test for Age Pension, Carer Payment or Disability Support Pension. There are limits to how much your assets can be worth before they affect how much you can get 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 get a full pension

From 1 July 2020, you can get a full pension if your assets are less 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 get a part pension

From 1 July 2020, your pension will 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 get Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.

If you get 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 get Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.

If you get 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 get Rent Assistance with your pension. You can find the rates by checking the Payment and Service Finder.

If you need other help

You may get help from Asset Hardship provisions if we either:

  • reject or cancel your pension
  • reduce your rate because of the assets test.

You may also be able to get help from the Pension Loans Scheme.

Page last updated: 24 February 2021