A Bill introduced an income asset test for carer allowance from 20th September 2018 has received royal assent on 29th June 2018.
The income test is fixed limit with the amount being a non-indexed of $250,000 for single and partnered households. The income test is based on adjustable taxable income and includes deemed income from account based pension where the recipient is aged 60 or over.
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Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.