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HOLLINGS ASSOCIATES Certified Practising Accountants |
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Client
Newsletter
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Age Pension Changesfrom 20 March 2010
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| 1) Age pension rates from 20 March 2010 | ||
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$ Per Annum |
$ Per Fortnight |
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| Single | $18,228.60 |
$701.10 |
| Couple (each) | $13,741.00 |
$528.50 |
| 2) Pension income test from 20 March 2010 |
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For maximum pension income (per fortnight) |
No pension when income exceeds (per fortnight) |
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| 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. | ||
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CPI June 2010
The
Australian Bureau of Statistics (ABS) issued their Consumer Price Index
figures for the June 2010 quarter on 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
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