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-E: Ordinary income test: free area, 50 cents in the dollar taper above it

What does 1064-E require?

Module E works out the effect of the person's ordinary income on the maximum payment rate: determine the person's ordinary income on a yearly basis (for a couple, the combined income halved), apply the ordinary income free area from Table E-1 for the person's family situation (indexed each 1 July), and reduce the maximum payment rate by 50 cents for each dollar of ordinary income above the free area (the ordinary income excess multiplied by the taper rate in point 1064-E7), to give the income reduced rate (points 1064-E1 to E12). Working credit or work bonus balances reduce the employment income counted (Division 1AAA of Part 3.10, point 1064-E3 notes), and the transitional rate rules preserve the older taper for pre-20 September 2009 recipients.

Maintained by Gerard Blokdyk

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