Age pension couple asset test correction

[MatthewKatzen]

For a couple, assets are reduced by $3 p/fn for every $1000 of assets over the asset limit for the combined rate. Since age_pension calculates pension at the individual level (not at the combined level) the asset test reduction should be halved.

E.g.
age_pension(fy.year = "2016-17", per = 'fortnight', has_partner = TRUE, assets_value = 575000) = 601.50

age_pension(fy.year = "2016-17", per = 'fortnight', has_partner = TRUE, assets_value = 576000) = 598.5

The difference being 3 when it should be 1.50

[HughParsonage]

Nice. Good catch.

…

On Tue, 2 Oct 2018 at 11:11 am, Matthew Katzen ***@***.***> wrote: For a couple, assets are reduced by $3 p/fn for every $1000 of assets over the asset limit for the combined rate. Since age_pension calculates pension at the individual level (not at the combined level) the asset test reduction should be halved. E.g. age_pension(fy.year = "2016-17", per = 'fortnight', has_partner = TRUE, assets_value = 575000) = 601.50 age_pension(fy.year = "2016-17", per = 'fortnight', has_partner = TRUE, assets_value = 576000) = 598.5 The difference being 3 when it should be 1.50 — You are receiving this because you are subscribed to this thread. Reply to this email directly, view it on GitHub <#148>, or mute the thread <https://github.com/notifications/unsubscribe-auth/AHvGDAmnS_j1H2BW03Zb1wnfqiedcsxgks5ugr1GgaJpZM4XDJwS> .

[MatthewKatzen]

Same goes for the income test. Adjusting from a reduction of $0.50 to $0.25 for each member in a couple

[MatthewKatzen]

Unsure whether the income test is calculated separately as suggested here : http://guides.dss.gov.au/guide-social-security-law/4/10/3
or whether it is combined as suggested here: https://www.humanservices.gov.au/individuals/services/centrelink/age-pension/eligibility/income-test-pensions

[MatthewKatzen]

Decided after discussion with Brendan that combining incomes and then splitting the reduction was the best approach