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.

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