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HOLLINGS ASSOCIATES Certified Practising Accountants |
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Client
Newsletter
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Age Pension Changesfrom 20 September 2009
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| 1) Age pension rates from 20 September 2009 | ||
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$ Per Annum |
$ Per Fortnight |
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| Single | $16,010.80 |
$615.80 |
| Couple (each) | $12,069.20 |
$464.20 |
| 2) Pension income test from 20 September 2009 |
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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 | $1,485.80 |
| Couple (combined) | (a) $248.00 | $2,274.00 |
| For each child, add | $24.60 | |
| (a) Pension reduction of 50c per $1 (or 25c each partner) for higher income | ||
| 3) Pension asset test from 20 September 2009 | ||
| Lower limit | Upper limit | |
| Single homeowner | (b) $178,000 | $626,000 |
| Single non-homeowner | (b) $307,000 | $755,000 |
| Couple homeowner (combined) | (b) $252,500 | $928,000 |
| Couple non-homeowner (combined) | (b) $381,500 | $1,057,000 |
| For allowances, the 'lower limit' is the disqualification limit | ||
| (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. | ||
CPI December 2009
The
Australian Bureau of Statistics (ABS) issued their Consumer Price Index
figures for the December 2009 quarter on The All-groups CPI rose by .05% in the December 2009 quarter as compared with a rise of 1.0% in the September 2009 quarter. The All-groups CPI rose by 2.1% between December 2008 and December 2009. For more details, go to www.abs.gov.au
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