Deeming explained: how Centrelink calculates income from assets

Instead of tracking actual investment returns, Centrelink applies standard deeming rates to the total value of your financial assets. From 20 September 2026:

• Lower rate: 1.75% on the first $62,600 (single) / $103,800 (partnered combined)
• Upper rate: 3.75% on the remainder

The deemed income is then added to your other income for the income test. Source: DSS Guide to Social Security Law 4.3.1.

Deemed assets: Bank accounts, term deposits, shares, managed investments, account-based super (if Age Pension age), bonds.

Not deemed: Your home, most physical assets, some superannuation (if under Age Pension age), defined benefit pensions.

For a worked example, see the deeming rates guide. For the effect on your pension, see the Age Pension income and assets test guide.