Deeming rates are going up… again 😳 Deeming was introduced over 30 years ago and is a simplified way of assessing how much income people can earn from their financial assets. The lower deeming rate will rise from 0.75% to 1.25% for financial assets under $64,200 for singles and $106,200 for couples combined, and the upper rate will rise from 2.75% to 3.25% for financial assets over these amounts. This is only the second time the deeming rates have changed since they were frozen during the COVID
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Deeming rates are changing and if you're receiving a payment from us, like the age pension, it's important that you understand how the changes could affect you. In our latest podcast episode Kirsten and Hank explain all things deeming. Head to the link in the comments to watch the full Deeming demystified episode. | Services Australia
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