Accounting, Taxation, Audit, Self Managed Super Funds, Goodwin Chivas & Co, Baulkham Hills, NSW, Australia
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August 2012 Newsletter-Are you entitled to an age pension?
Are you entitled to an age pension?

Are you entitled to an age pension?

To qualify for an Age Pension, you must first satisfy an age (65 for men and 64.5 for women) and residency (are you an a permanent Australian resident) requirement.

If you are eligible you then need to work out how much Age Pension could be payable. This depends on your income and assets and other circumstances.

In brief, for a couple, if the combined total assets, excluding the family home, are less than $1,024,000 and the combined income is less than $66,000 p.a. you may be entitled to a part pension. If you do not pass these tests you may still be entitled to the health care card if you meet the age and residency tests and your combined taxable income is below $80,000pa.

Assets Test*

Income Test*

*Courtesy of Centrelink.

If you would like to review your situation with us please call to organise an appointment to see Garry, Patrick or Debbie in our financial planning team

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