HOLLINGS ASSOCIATES

Certified Practising Accountants

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On a lighter note

                       
            Topics on this page:

            Client Newsletter            
            Age Pension Changes
 
            Tax Offsets - Senior Australians         
 
           
CPI
           

Client Newsletter
 

If you would like a sample of the newsletter we send by mail to clients and business colleagues, please phone our reception and they will post you one.

There is no obligation or follow-up by us unless you call us back and become a client.

Top

Age Pension Changes

from 20 March 2010
(based on new rules)

 

1) Age pension rates from 20 March 2010    
 

$ Per Annum

$ Per Fortnight

Single $18,228.60

$701.10

Couple (each) $13,741.00

$528.50

2) Pension income test from 20 March 2010  

 

  For maximum pension income
(per fortnight)
No pension when income exceeds
(per fortnight)
Single (a) $142.00 $1,544.20
Couple (combined) (a) $248.00 $2,362.00
For each child, add $24.60  
(a) Pension reduction of 50c per $1 (or 25c each partner) above the lower limit    
3) Pension asset test from 20 March 2010    
  Lower limit Upper limit
Single homeowner (b) $178,000 $645,500
Single non-homeowner (b) $307,000 $774,500
Couple homeowner (combined) (b) $252,500 $957,500
Couple non-homeowner (combined) (b) $381,500 $1,086,500
(b) Assets above these amounts reduce pensions by $1.50 for every $1000 above the limit (single and couple combined)
Further details available from www.centrelink.gov.au.

Top

 

CPI June 2010

The Australian Bureau of Statistics (ABS) issued their Consumer Price Index figures for the June 2010 quarter on
18 July, 2010.

The All-groups CPI rose by .06% in the June 2010 quarter as compared with a rise of .09% in the March 2010 quarter.

The All-groups CPI rose by 3.1% between June 2009 and June 2010.

For more details, go to  www.abs.gov.au

 

 

HOLLINGS ASSOCIATES

Suite 4, First Floor

49-51 Eton Street

Sutherland NSW 2232 AUSTRALIA

 

PO Box 342, Sutherland NSW 1499

Phone: 02 9521 5100

Fax:      02 9521 5230

DX 4502 SUTHERLAND NSW

 

 

Email: email enquiry

Updated                                                                                            30/07/2010