From 20 March 2015, the social security deeming rates will reduce. Deeming assumes that bank accounts and other financial investments are earning a certain amount of income regardless of the income they are actually earning.
Changes to deeming rates:
- Lower deeming rate will reduce from 2% to 1.75%
- Upper deeming rate will reduce from 3.5% to 3.25%
The deeming thresholds are unchanged at:
- $48,000 for single pensioners and allowees
- $79,600 for pensioner couples
- $39,800 for each member of an allowee couple
If you would like more information, please contact me for more information.
Bridges Financial Services Pty Ltd (Bridges) may use information you provide to contact you to arrange a meeting with a Bridges financial planner to provide you with financial advice or financial products.