Deeming Explained Simply - Age Pension Income Test | RetireOn
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Deeming Explained Simply - Age Pension Income Test | RetireOn
May 20, 2022
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What are deeming rates and how do they affect retirees?
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Deeming rates are going up… again 😳 Deeming was introduced over 30 years ago and is a simplified way of assessing how much income people can earn from their financial assets. The lower deeming rate will rise from 0.75% to 1.25% for financial assets under $64,200 for singles and $106,200 for couples combined, and the upper rate will rise from 2.75% to 3.25% for financial assets over these amounts. This is only the second time the deeming rates have changed since they were frozen during the COVID
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