Last week, after much heated debate, the Albanese Government announced a change to the way super will be taxed. Even more heated debate followed. And most of it seemed to be focussed on ‘whose super is it’ and ‘is the government coming after your money?’ debates.
Income test made easy: How Centrelink assesses your earnings
How much can you earn and still qualify for an Age Pension?
Most pre-retirees and retirees would quite reasonably expect this question to be answerable in one sentence, or maybe two, to allow for single and couple circumstances.
But no, there’s way more to it than that. Income is viewed in three different ways for Age Pension entitlement and with recent changes to the Work Bonus, such assessments can be difficult to understand in your own particular circumstances.
The overall year-on-year (YOY) CPI increase of 6.9% was lower than expected, and lower than the September YOY increase of 7.3%. What does this mean for Age Pension rates?