Australia Social Security Act 1991 (Age Pension: qualification, income test and assets test)
Section 1064 Pension Rate Calculator A: the rate calculation and the ordinary income and assets test modules – Australia Social Security Act 1991 (Age Pension: qualification, income test and assets test)

Australia Social Security Act 1991 (Age Pension: qualification, income test and assets test) 1064-A: Rate calculation method: maximum basic rate, supplements, then the greater of the income test and assets test reductions

What does 1064-A require?

The rate of age pension is a daily rate worked out under Pension Rate Calculator A in section 1064: start with the maximum basic rate for the person's family situation (Module B, Table B-1, with members of a couple taking the couple rate), add the pension supplement (Module BA) and the energy supplement (Module C) to reach the maximum payment rate, work out the ordinary income test reduction (Module E) and the assets test reduction (Module G), apply the greater of the two reductions to the maximum payment rate, then add remote area allowance (Module H) and convert to a daily rate (points 1064-A1 to A6). Members of a couple have their income and assets pooled and halved (points 1064-E2, 1064-G2). The amounts in the tables are indexed under Chapter 4 each 20 March and 20 September.

Maintained by Gerard Blokdyk

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