How To Earn Extra Income Without Losing The Age Pension
In a recent article it was claimed that at age 65 it is possible for a couple on the full age pension to receive $67,252 a year tax free. this sum was comprised of $34,252 a year pension plus $13,000 (combined) from part-time work and $20,000 drawn from their super.. If your income exceeds the couples’ income limit of $526 per fortnight, then your age pension is reduced by 50 cents in the dollar, for each dollar over this amount, until your income reaches $1. for example, if your income is $626, $100 over the income limit, then your age pension will be reduced by $50.. Earn anything more than that and your age pension will drop 50 cents for every dollar over the limit. if you both earn $600 a fortnight, your combined pension will drop by $454 each fortnight..
Currently, to obtain a full age pension, you can earn no more than $152 per fortnight and for a part age pension, you need to earn less than $1768.80. you can find the current income limits on the yourlifechoices website and for your information, you can also find the asset limits here.. The age pension is an income paid to eligible australians by centrelink, a division of the australian government, on a fortnightly basis. how much you receive depends on how much other income you receive and how much your assets are worth.. 2017 age pension guide christian porter mp federal member for pearce ts from . q under the income test, how much extra income, as well as my pension, can i receive before i lose my pension? a per fortnight per year pension starts reducing without affecting my pension?.
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