The 1st July, 2020 Age Pension thresholds are now available. These are:
| Single | Couple | Illness Separated | |
| Income-free Threshold p.f. | $178.00 | $316.00 | $316.00 |
| Asset-free Homeowner | $268,000 | $401,500 | $401,500 |
| Asset-free Non-Homeowner | $482,500 | $616,000 | $616,000 |
| Lower Deeming Threshold | $53,000 | $88,000 | $88,000 |
The legislation to change the transfer balance account calculations has now passed the Senate. This provides the debit calculation when a market-linked capped defined benefit income stream is rolled over to another market linked capped defined benefit income stream is rolled over to another market linked pension. Information already forwarded to the ATO needs to be reviewed and maybe amended.
Thank you to all those administrators who have supplied us with legacy pension information. Many of these are not going to meet the Centrelink adequacy requirements. I confirm that NetActuary is happy to supply support and legacy pension reports at only $220 inclusive of GST – even when we don’t do the normal ECPI certificates for that firm.
A new NetActuary website is being developed. If the website name servers take time to populate the new DNS records and the website is down, brian@bendzulla.net is a backup email to brian@netactuary.com.au
Brian Bendzulla
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