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November 9th, 2016 Posted by Asset test, B&W Additions News, Centrelink, Financial Planning, News, Pension, Superannuation, Tax Planning, Taxation Measures No Comment yet

Centrelink Pension Asset Test changes from 1 January 2017

Essentially the Assets test “taper-rate” will increase from $1.50 per $1,000 to $3 per $1,000 of excess assets over the initial threshold. This means the reduction in the maximum Age Pension due to excess assets will increase. While the initial thresholds are increasing, the increased taper-rate will lower the cut-off levels for the Age Pension. So, while some pensioners may gain an increase in payments many others (as much as 91,300) may find that the no longer receive any Age Pension because of the changes. […]