Understanding the Centrelink payments asset test is crucial if you’re receiving support and wondering whether your savings, property, or investments might impact your benefits.
Many Australians are unsure of the rules, and unfortunately, confusion can lead to overpayments, debt, or losing eligibility altogether.
This article breaks down exactly what the asset test looks like in 2025, what’s counted, what’s exempt, and how to stay within limits without risking your Centrelink payments.
What Is the Centrelink Payments Asset Test?
The Centrelink payments asset test is used by Services Australia to decide how much money or property you can own before your payments are reduced or stopped.
It applies to most Centrelink benefits, such as the Age Pension, JobSeeker Payment, Parenting Payment, and Disability Support Pension.
Assets include anything you own of value, except your main home. Things like savings, investments, cars, boats, rental properties, and even some personal belongings may be considered.
What Assets Are Counted?
Under the Centrelink payments asset test, the following are considered assets:
- Savings and bank account balances
- Superannuation (if you’ve reached Age Pension age)
- Investment properties or holiday homes
- Shares, bonds, and managed funds
- Vehicles, caravans, and boats
- Business assets (if not exempt)
- Collectables and antiques
It’s important to report the current market value of each asset and not what you paid for them.
What Doesn’t Count?
Luckily, not everything you own is included in the asset test. These are commonly exempt:
- Your primary residence (family home)
- Personal contents (up to a reasonable value)
- Some funeral bonds or pre-paid funerals
- Gifts or transfers made more than 5 years ago
- Certain business assets (if you or your partner are actively running the business)
Still, if you’re not sure whether something counts, it’s better to ask Centrelink or check via MyGov to avoid future problems.
2025 Asset Thresholds
The Centrelink payments asset test thresholds differ depending on your situation. Here’s a quick overview of as of July 2025 (rounded for clarity):
| Situation | Full Pension Limit | Part-Pension Cutoff |
|---|---|---|
| Single homeowner | $321,500 | $704,500 |
| Single non-home | $579,500 | $962,500 |
| Couple homeowner | $481,500 (combined) | $1,059,000 |
| Couple non-home | $739,500 (combined) | $1,317,000 |
If your total assets are below these limits, you can usually receive full payments. Once you exceed them, your payments reduce until they eventually cut off completely.
How Often Is the Asset Test Reviewed?
The Centrelink payments asset test is reviewed:
- When you report changes (like selling property or getting a lump sum)
- Annually, with inflation adjustments
- During routine reviews by Services Australia
It’s your responsibility to keep your records up to date. Failing to report an asset increase could result in an overpayment, which Centrelink will ask you to repay later.
Frequently Asked Questions
Q: Can I gift money to stay under the asset test limit?
Yes, but only up to $10,000 per financial year or $30,000 over five years. Anything beyond that still counts as your asset.
Q: Does my super count?
Not until you reach Age Pension age. Before that, it’s exempt under the asset test.
Q: What if my partner owns more than me?
Assets are combined for couples. Even if only one of you gets payments, the total is considered.
