The assets test: thresholds, the home exemption and the $3 taper
What you can own before your pension reduces, why homeowners and non-homeowners get different limits, and the $3-per-$1,000 taper.
The full-pension limits
The assets test looks at the market value of everything you and your partner own — property other than your home, cars, caravans, boats, household contents, financial investments and superannuation once you reach Age Pension age. It also counts assets held outside Australia and debts owed to you.
To receive the full pension, your assessable assets must be under the full-pension limit for your situation: $333,000 for a single homeowner and $600,000 for a single non-homeowner; $499,000 combined for a homeowner couple and $766,000 combined for a non-homeowner couple. A couple separated due to illness uses the same $499,000 / $766,000 limits as a couple living together.
Your home is exempt — with a land limit
Your principal place of residence is generally exempt from the assets test, no matter what it is worth, and so is the land it sits on up to 2 hectares in most situations. That is why homeowners get lower limits than non-homeowners: the home itself is not counted, so a homeowner is expected to need less in other assets. Investment properties, holiday homes and the proceeds of selling a home are assessable — selling your home does not make the money invisible.
If you receive Rent Assistance with your pension, your part-pension cut-off point is higher than the standard figures below. Check the Payment Finder on Services Australia's website if Rent Assistance applies to you.
The taper and the cut-offs
Above the full-pension limit, your pension reduces by $3 a fortnight for every $1,000 of assets over the limit. Worked example. A single homeowner with $433,000 in assessable assets is $100,000 over the $333,000 limit, so the pension reduces by $300 a fortnight — from the maximum of $1,237.70 to $937.70. If the income test gives a lower rate, that rate applies instead.
Part pensions stop entirely at the cut-off points. On Services Australia's assets test page (1 July 2026 basis) the cut-offs are: single homeowner $733,500; single non-homeowner $1,000,500; homeowner couple $1,102,500 combined; non-homeowner couple $1,369,500 combined; couple separated due to illness $1,300,000 (homeowner) and $1,567,000 (non-homeowner).
Frequently asked questions
Does my house count in the assets test?
No — your principal home is generally exempt, along with the land it sits on up to 2 hectares. But investment properties, holiday homes and money from selling a home do count.
My partner and I own everything jointly. Are we assessed separately?
No. Couples are assessed on combined assets against one combined limit, not each partner separately.
What if my assets are over the cut-off?
You will not receive the Age Pension, but you may qualify for other help — for example the Commonwealth Seniors Health Card, or Asset Hardship provisions if you are in severe financial hardship.
Official links
Verify every figure on this page at Services Australia: