Deeming calculator
Calculate your Centrelink Age Pension entitlements
Use our deeming rate calculator to work out your deemed income for the Centrelink income test.
Disclaimer
This calculator is not intended to be relied upon for the purposes of making a financial decision. You should consider your objectives, financial situation and needs, which are not accounted for in this information, before making any investment or financial decisions.
You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.
Assumptions
Deeming is a key consideration in the Age Pension income test. When using this deeming calculator, it is assumed that you are an Australian resident and you are age-eligible.
Deemed income from your investment assets is calculated by multiplying the asset value by the applicable deeming rates.
Deeming rates are set by the Federal Government.
The deeming rates and thresholds effective at 1 July 2024 are:
- Singles - 0.25% on the first $62,600 of your total investment assets and 2.25% on your assets over $62,600.
- Couples - 0.25% on the first $103,800 of your total investment assets and 2.25% on your assets over $103,800.
Assets subject to deeming include:
- Superannuation assets.
- Savings accounts, cash and term deposits.
- Shares.
- Managed investments such as managed funds and insurance bonds.
- Debentures (money owed to you).
- Gold, silver or platinum bullion.
Assets not subject to deeming include:
- Your home.
- Home contents.
- Investment properties.
- Cars, boats and caravans.
This calculator does not allow for the 24 month assets test exemption for principal home sale proceeds.
How is deeming calculated?
Centrelink assesses eligibility for the Age Pension by looking at the value of your superannuation and other financial assets (or, if you have a partner, the combined value of your super and other financial assets) to calculate your “deemed income”. Your deemed income helps to determine how much Age Pension you are entitled to.
As well as your superannuation balance, some of the assets that count towards your deemed income include:
- Savings accounts, cash and term deposits
- Shares and securities
- Managed investments such as managed funds and insurance bonds
- Account based income streams such as account based pensions and annuities
View the deeming calculator’s assumptions to see more assets that are included (and excluded), and to find out more about deeming rates.
Your question will be sent directly to the fund you select