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Latest Accounting News
Hot Issues
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
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Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
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Tools to help you manage your financial position are available on our site.
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Beware residency rules if moving overseas
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FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
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Articles

Geroge & John   A Christmas Message

Employee Christmas Parties and Gifts – Any FBT?
Salary Sacrifice - An introduction
8 Financial Tips For Young Adults
Merry Christmas and Happy New Year
George's & John's Desk - October - November Newsletter
Age Pensions
Commonwealth Seniors Health Card
Failure to Provide Alternative Duties Does Not Amount To Disability Discrimination
Tips For Buying The Perfect Investment Property

George & John August 2010 Newsletter

Age Pensions
.

The Age Pension from Centrelink from Department of Veterans Affairs (Ex Service Personnel) is subject to income and assets tests.  Payments are indexed and vary each quarter.

Full Pension is payable if assets are less than the:-

Single Person Home Owner  $178,000
    
Couple Home Owner   $252,500 

A Part Pension is payable if assets are less than:-

Single Person Home Owner   $645,500 
    
Couple Home Owner   $957,500  

Assets do not include the home you live in.  The amounts vary upwards if you are a non-home owner.  These amounts are indexed upwards irregularly.

If your assets are near the upper figures, meaning that you receive only a small pension, there are other benefits which can be financially significant.

These include concessions on Electricity, Rates, Telephone, Car Registration, Public Transport, some Entertainment tickets and Ambulance.  Many businesses offer cheaper prices on their goods and services.

The qualification age for Age Pensions is at present 65 for males and 63.5 for females.  These ages will be gradually increased to 67 in coming years.

 



21st-November-2010