How much can I own in assets – and earn in income – and still get the pension? [Article]
Thresholds as at 01/01/2011:
Asset Test
Homeowner
Full Pension (up to)
Part Pension (less than)
- If I have super will I also get the Age Pension? [Article]
This is a frequently asked question. You have paid tax on your income and feel justified in receiving the age pension when you retire.
As at 20 September 2011 the full age pension is $689 a
- How much can I contribute to super? [Article]
This depends on your age and whether the contributions to your super fund attract tax concessions or not.
Concessional contributions
An employer, or in certain circumstances t
- What is a Government Co-contribution? [Article]
Members who make after-tax contributions to their super account may be eligible to receive a payment from the Government into their super, which is called a Government Co-contribution. Af
- What is the work bonus scheme? [Article]
The Work Bonus is designed as an incentive for pensioners to participate in the workforce. Under the Work Bonus scheme, the first $250 of fortnightly employment income will be disregarde
- Should I roll my ETP to superannuation if it meets the transitional arrangements... [Article]
Generally the answer to this question from a tax perspective is yes, because you may be able to reduce you overall tax liability. However, funds may then become preserved in superannuation and unable ...
- What eligibility tests do I need to consider to receive Centrelink payments? [Article]
There are 2 means tests that are applied to decide your eligibility for payments from Centrelink:
The assets test
The income test
For more information on these tes
- If I am working while receiving the Age Pension, am I eligible for the Pensioner... [Article]
The Pensioner Bonus Scheme (PBS) is now closed to new applicants, however those who were pension age prior to 20 September 2009 and who met all other eligibility conditions (eg. residency etc) may
- What is the difference between a Centrelink pension and an allowance? [Article]
...nce for a number of reasons. Firstly, the rates of payment differ. Similarly, the income and assets tests for pensions and allowances also differ depending
- What is a deductible amount? [Article]
A deductible amount is a term used in relation to retirement income streams to reflect what is considered to be the return of your capital over time. This is particularly relevant for Centrelink pur
- How can I improve my eligibility for Centrelink/DVA Benefits? [Article]
...link/DVA Benefits is dependent upon whether you are currently under either the income or the assets test. In deciding upon your level of entitlemen
- What are pensioner concession cards? [Article]
There are a number of concession cards that become available to senior Australians.
Most people approaching pensionable age are keen to qualify for the Pensioner Concession Card, which gives
- I’m not working, but can I contribute to super anyway? [Article]
...65.
However, you can contribute to super after reaching 65, if you are under 75 and meet the work test. The test involves you working at leas
- How much of my own after-tax money can I put into super? [Article]
The maximum non-concessional (after-tax contribution limit) is $150,000 a year, or $450,000 averaged over three years on a ‘bring-forward’ basis.
People aged 65 or over are able
- How can I access my super before retirement? [Article]
Super is your deferred pay invested for your retirement and therefore early access is highly restricted and difficult.
If you have any unrestricted non-preserved benefits these can be access
- What pensions are available to me? [Article]
The minimum standards for pensions are as follows:
Payments of a minimum amount to be made at least annually, allowing pensioners to take out as much as they wish above the minimum (i
- What assets are assessable in the assets test? [Article]
Cash, investments such as shares, unit trusts (investment/managed funds), insurance and friendly society bonds (less any debts against these assets, e.g. a loan you arranged to purchase some
- What is a Government co-contribution? [Article]
Members who make after-tax contributions to their super account may be eligible to receive a payment from the Government into their super, which is called a Government Co-contribution. After &ndas
