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Indexation of rates 1 July 2018

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From 1 July 2018, the Income Free Areas and Assets Value Limits used to calculate rates of income support pensions will rise.

The amount of income (per fortnight) an income support pensioner may receive before their pension is reduced under the income test:

 

SINGLE RATE
(fortnightly)
COUPLES RATE – combined
(fortnightly)
Service or Age Pension $172.00 $304.00

Income Support Supplement
(War Widow(er)’s Pension is included in these amounts)

  • Different limits apply if assessed under transitional rules
$1,413.80 $1,907.60

The maximum value of assets a person can have before their pension is affected:

  SINGLE RATE COUPLES RATE – combined
Service or Age Pension    
Homeowner $258,500 $387,500
Non-homeowner $465,500 $594,500

Income Support Supplement
(War Widow(er)’s Pension is included in these amounts)

  • Different limits apply if assessed under transitional rules
   
Homeowner $465,500 $655,000
Non-homeowner $672,500 $862,000

The deeming thresholds have also increased. This means that the value of financial assets deemed to be earning the lower rate of 1.75 per cent has risen. The higher deeming rate of 3.25 per cent is applied to the balance of financial assets over these thresholds.

  SINGLE RATE COUPLES RATE – combined
Deeming threshold $51,200 $85,000

Some payments under the Military Rehabilitation and Compensation Act 2004 (MRCA) also increased, including:

  NEW RATE (weekly)
Maximum Permanent Impairment amount $347.24
Maximum rate of Household Services $491.67
Maximum rate of Attendant Care Services $491.67
Dependent eligible young person $148.68

A full list of the new rates is available from DVA's CLIK website. For further information, contact DVA on 133 254 or from regional Australia free call 1800 555 254.

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