Income Tested Fee Indicator

Valid as at 20 September 2011. The Income Tested Fee can be a complex calculation. Should you require further information, please feel free to give us a call on 1300 781 586 or use the contact form.

Income Tested Fee Indicator Download PDF Document


Financial Assets ($)1 Deemed Income ($)2,3 Means Tested
Pension based on
Fin Assets4		 Allowed Income ($) Tested Income ($) Income Tested Fee ($)
Yearly Daily
$101,535 $3,900 $19,469 $22,532 NIL NIL NIL
$140,500 $5,654 $18,592 $22,532 $877 $365 $1.00
$250,000 $10,581 $16,128 $21,454 $4,418 $1,841 $5.04
$400,000 $17,331 $12,753 $21,454 $7,793 $3,247 $8.90
$550,000 $24,081 $9,378 $21,454 $11,168 $4,653 $12.75
$850,000 $37,581 $0 $21,454 $16,127 $6,719 $18.41
$1,000,000 $44,331 $0 $21,454 $22,877 $9,532 $26.11
$1,500,000 $66,831 $0 $21,454 $45,377 $18,907 $51.80
$1,784,800 $79,647 $0 $21,454 $58,193 $24,247 $66.43
  1. Financial assets such as bank accounts, managed funds, loans, bonds, debentures, shares, and gifts over $10,000 in any one year are deemed. Excluded from financial assets are Accommodation Bonds, your home, contents, holiday home, investment property, car, boat, caravan, pre-paid funerals, complying annuities and funeral bonds up to $11,250 per year.
  2. The first $44,600 of financial assets is deemed to earn 3% and everything above $44,600 is deemed to earn 4.5%.
    (First $74,400 for couples).
  3. If other income is received such as Superannuation, Overseas Pensions, Allocated Pensions, rental income** and certain types of annuities this income will need to be added in order to calculate the Income Tested Fee.
    ** Some exemptions may apply; speak with a Financial Adviser to discuss individual circumstances.
  4. Means Tested Pensions such as the Age and Service Pensions, based on new pension rates as from 20-9-2011.
  5. Standard and Phased Thresholds (depends on assessable private income at time of first entry into care).

These calculations are based on financial assets in the corresponding columns only, and are based on a single person who is a non-homeowner.