Deeming rates: what changed in September

Q: Where can I find the official rules for deeming rates?

The official source is DSS Guide to Social Security Law. All information on this page is checked against that source and dated October 2026.

Q: Is this guide up to date?

This guide was last checked in October 2026. Centrelink rates and rules change — always verify against the official source before making decisions.

What is deeming?

Instead of using the actual interest or dividends your money earns, Centrelink deems (estimates) a standard income from your financial assets regardless of what they actually return.

The deemed income is added to your other income for the income test, which can reduce your payment.

Current deeming rates (from 20 September 2026)

Lower rate: 1.75% — applies to the first $62,600 of financial assets (single) or $103,800 (partnered combined)
Upper rate: 3.75% — applies to the balance above those thresholds

Source: DSS Guide to Social Security Law 4.3.1.

What counts as a financial asset?

Bank accounts, term deposits, shares, managed investments, account-based superannuation (if you are of Age Pension age), and friendly society bonds.

Your home and other physical assets are generally not financial assets for deeming — they are assessed under the assets test instead.

Worked example

Single Age Pensioner with $100,000 in a term deposit:

First $62,600 × 1.75% = $1,095.50/year = $42.13/fortnight
Remaining $37,400 × 3.75% = $1,402.50/year = $53.94/fortnight
Total deemed income: $96.07/fortnight

Questions about this guide

Where can I find the official rules for deeming rates?

The official source for this guide is DSS Guide to Social Security Law. All information on this page is checked against that source and dated October 2026.

Is this guide up to date?

This guide was last checked in October 2026. Centrelink rates and rules change — always verify against the official source before making decisions.

Can I use this guide to make a claim?

This guide will help you understand your entitlements and prepare your claim, but you must submit the actual claim through myGov or at a Centrelink service centre. We never ask for or store any personal information.