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Picture Book · Age Pension

The income test

Story pages

A woman in her early seventies with a neat grey bun arranging flowers in a small florist shop
Meet Helen. She's 71 and has a little income from a part-time job and her investments.
A small stream running into a pond
The income test counts income from most sources, including work and deemed income from financial assets.
A bucket under a garden tap
As a single person, the first $226 a fortnight of income doesn't reduce her pension.
A child's seesaw in a park
Above that, her pension reduces by 50 cents for each dollar over $226.
Two bicycles leaning together against a park bench
Couples share a combined threshold of $396 a fortnight, then each pension reduces by 25 cents per dollar over it.
A woman in her early seventies at a desk by a window
Helen reports her work income on time so her payment stays right.

The end

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General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

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