Increasing the social security asset test thresholds – thresholds have increased for most social security benefits:

Benefit recipient

Full Pension

Pension Cut Out

Single home owner



Home owner couple



Single non-home owner



Non-home owner couple




The changes apply to thresholds for many social security benefits, such as the parenting payment and any allowances (e.g. youth allowance, newstart allowance).

Resuming indexation of asset test thresholds – part of last year’s Budget measures was to pause indexation of the asset-test free areas. As part of these changes to the threshold, indexation of the asset test thresholds will resume.

Increasing the taper rate – the taper rate for those on the asset test will increase from $1.50 per $1000 to $3.00 per $1000 over the threshold.

Retaining concession cards – those who would lose their senior’s health care card as a result of the changes will retain access to the card.

Seniors supplement – the seniors supplement is being abolished for Commonwealth seniors health care card holders.