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PENSIONS & SENIORS

 

CENTRELINK INFORMATION (July 2001)

General overview only for details contact your local Centrelink Office, or the Website www.centrelink.gov.au

 

 

Age pension conditions of eligibility

* Men aged 65 or over

 

* Women aged 61.5 or over - increasing to

 

age 65 by December 2013

Pension Basic Rates

* Max single rate per fortnight $407.80

 

* Max couple rate per fortnight $676.80

Rent Assistance

Depends on marital status, rent paid and number of

 

children. Max rate is $82.80 per fortnight for a couple

 

with no children paying more than $237.40 per

 

fortnight rent.

Allowance Basic Rates, including Mature

* Max single rate per fortnight $357.80

Age Allowance

* Max  Mature Age, single (aged 60+ years

(Newstart, Sickness, Partner Allowance,

after 9 months + on benefits) $386.90

etc.)

* Max couple (each) per fortnight $322.80

Pensioner Concession Card

Concessional PBS prescription medicines

(pensioners, people receiving Mature Age

($3.50), hearing aids, eye examinations,

Allowance and Carer Payment)

ambulance, dental care, public transport

 

concessions, free car registration, reductions

 

on TAC, council rates, water and energy

 

bills, stamp duty on property; telephone

Estimated value: $1200-$2000 (couple)

allowance, and others. Free PBS medicines

$ 800-$1600 (single)

after spending $182 per calendar year.

 

Information: 13 23 00

Health Care Card

Concessional PBS prescription medicines,

(people on an Allowance, and low income

hearing aids, eye examinations, dental care,

earners not in receipt of Social Security

public transport concessions (not for all

payments from Centrelink)

allowees, and not for dependants), free car

 

registration, reductions on water and energy

 

bills, stamp duty on property, and others.

 

Free PBS medicines after spending $182 per

Estimated value: $600 - $1200 (couple)

calendar year. Low income limit is

$400 - $ 1000 (single)

*single $315 p/w over 8 weeks ($393.75)

 

* couple $524 p/w over 8 weeks ($655)

 

Information: 13 24 68 (non-pensioners)

Commonwealth Seniors Health Card

Concessional PBS prescription medicines

(for non-pensioners of Age Pension age,

($3.50); free PBS medicines after spending

Australian residents living in Australia, and

$182 per calendar year.

with an annual income below the cut off

Adjusted taxable income limits:

point)

* single $50,000 p/a

Phone Allowance: $17.20 p/q single/couple

* couple, combined $80,000 p/a

Estimated value: 50 - $700 (single)

*couple separated by illness: $ 100,000 p/a

SO - $1400 (couple)

Information : 13 23 00

Deeming rate

Below Threshold: 3 %

(applied to all financial assets, such as bank

Above Threshold: 4.5%

accounts,  managed investments, superannuation

Pension Allowance Single Threshold.* $33,400

(over age pension age), shares, debentures,

Pension Couple (combined) $55,800

excess gifting, loans, etc.)

Allowee couple (each) $27,900

 

ASSETS TEST      

Entitlements are assessed under the Income and the Assets Test. The Test which results in the lower payment applies.

 

* Threshold for Pensions and allowances

 

 Home owner

 Non-Home owner

 Single

 $141,000

 $242,000

 Couple combined

 $200,500

 $301,500

 

Assets over these figures: Allowances No Entitlement
  Pensions Reduction of $3 per fortnight for every $1000

 

* Cutoff points for pensions:

 

Home owner

Non-Home owner

Single

$277,000

$378, 000

Couple combined

$426500

$527500

 

* Gifting

$10,000 per pension year per single or couple; amounts over that will be assets tested deemed as income for 5 years.

 

INCOME TEST

 

* Threshold for pensions

Single: $112 p/f ($2912 p/a)   Couple: $200 p/f ($5200 p/a)

Income above these amounts reduces the pension rate by 40 cents in for every dollar.

 

*Threshold for pensions  (Applies to each member or Couple)

 Income

 Reduction

 $0 - $62 per fortnight

 Nil

 $63 - $142 per fortnight

 50%

 $143  + per fortnight 

 70%

(Income over $537 per fortnight reduces the partner's payment by 70%)

 

* Income cut off points for pensions and allowances

 

Pension

Single

$1131.50 per fortnight ($29,419 per annum)

 

Couple

$1892 per fortnight ($49,192 per  annum)

Allowance

Single

$ 596 per fortnight ($ 15,496 per annum)

 

Mature Age Allowance: $637.57 per fortnight (S 16,576.82 per annum) Partnered (each): $546 per fortnight ($14,196 per annum)

 

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