ATB Chartered Accountants
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For those who are unaware, pension deeming rates are a part of the social security income test, and are used to assess income from financial investments for social security and Veterans’ Affairs pensions and allowances. They reflect the rates of return that these individuals qualify for on their financial investments.
As of the 20 March 2015, the deeming rates throughout Australia were lowered to:
The payments affected by the deeming rates include:
Ref: Minister for Social Services media release, 16 February 2015
This article is provided as general information only and does not consider your specific situation, objectives or needs. It does not represent accounting advice upon which any person may act. Implementation and suitability requires a detailed analysis of your specific circumstances.
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