Age Pension assets test for non-homeowners.
Non-homeowners use higher assets-test thresholds than homeowners, but the income test, deeming, rent, savings and retirement timing can still change the Age Pension estimate.
Current non-homeowner assets-test thresholds.
The higher non-homeowner threshold recognises that the household does not have the same principal-home position as a homeowner. It does not mean every non-homeowner gets a full pension, because the income test still needs to be checked.
| Household | Full-pension threshold | Approximate cut-off |
|---|---|---|
| Single non-homeowner | $579,500 | About $980,000 |
| Couple non-homeowner | $739,500 combined | About $1,343,000 combined |
What non-homeowners still need to check.
Financial assets
Savings, term deposits, shares and managed funds can count under the assets test and create deemed income.
Other assets
Cars, contents, caravans, investment property and other assets can still be assessable.
Income test
Work income, deemed income, passive income and foreign pension income can reduce the estimate even when the assets test looks favourable.
Why non-homeowner status can change the binding test.
A single non-homeowner with $500,000 of assessable assets is below the non-homeowner full-pension assets threshold, while a single homeowner with the same assessable assets is above the homeowner threshold. That does not end the calculation: deemed income and other income still need to be tested.
- Use the correct non-homeowner threshold.
- Separate financial assets from other assessable assets.
- Check deemed income and other assessable income.
- Compare the assets-test and income-test estimates.
Common non-homeowner traps.
Assuming full pension
The higher threshold helps, but income and high assets can still reduce the estimate.
Missing deeming
Financial assets can still create income-test pressure.
Wrong household status
Single and couple thresholds are different.
Old source date
Thresholds and rates can change, so calculator source date matters.
Before using a calculator
- Confirm non-homeowner status.
- Confirm single or couple status.
- List financial assets separately from non-financial assets.
- Record rent, passive income and work income.
- Check the result against the income test.
How RetireAI helps
RetireAI compares home status, assets, income, deeming, spending and super drawdowns in one educational report so the household can see what is driving the result.