Changes to aged pension thresholds to start on 1 July

On 1 July,  there will be changes to the aged pension system that directly impacts individuals aged 60 and above.

The pension rate remains the same, but the thresholds that determine how much pension is paid have been adjusted to cover for the rate of inflation, now 7%.

Many part-pensioners will now move to a full pension, and some people who were ineligible for a pension – because they were over the assets test cut-off point – will be eligible to start claiming a part-pension and all the concessions that accompany it.

Every couple who are part-pensioners now should get a $50-a-week increase in their pension, while singles will get $35 a week. These benefits are available only to part-pensioners because they are due to a change in the taper rates – not to an increase in the amount of pension payable.

The assets test cut-off points change too. The lower level at which the pension starts to reduce has gone up from $419,000 per couple  and $280,000 for singles to $451,500 and $301,750, respectively.


The upper level at which eligibility for a pension cuts off moves from $954,000 for a homeowner couple to $986,500, and for singles the numbers go from $634,750 to $656,500.

There also is a slight increase in the amount pensioners can earn before their pension starts to reduce under the income test. For a couple, the income test cut-off point rises from $336 a fortnight to $360 a fortnight – for singles it increases from $190 a fortnight to $204 a fortnight.

The final change is for deeming rates. They remain between 0.25% and 2.25% and will be frozen until July 1, 2024, however the thresholds have been increased slightly in line with inflation, which will have a small benefit to all income-tested pensioners.

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A special thanks to our contributors

Jill Donaldson


Jill has been practicing as a clinical physiotherapist for 30 years. For the last 13 years she has worked solely in the Aged Care sector in more than 50 metropolitan and regional facilities. Jill has also toured care facilities in the US and Africa and is a passionate advocate for both the residents in aged care and the staff who care for them. She researches and writes for DCM Media.

Chris Baynes

DCM Media, agedcare101

Chris has been a journalist and publisher in the retirement village and aged care sectors for 11 years. He has visited over 250 retirement villages and 50 aged care facilities both within Australia and internationally. Chris is a regular speaker at industry conferences plus is a frequent radio commentator.

Annie Donaldson

Nurse and Carer

Annie has a long career in both nursing and the media. She has planned and co-ordinated the medical support from both international TV productions and major stadium events. In recent years she has been a primary family carer plus involved in structured carer support.