The assets test looks at most property and items you, and your partner, own. The value is typically worked out as though you were selling your assets at their market value. Note that the value of your family home is excluded from the test. The asset types can include:
- Real estate
- Financial investments
- Other income streams
- Motor vehicles
- Household items
- Business assets
Services Australia also predicts how much you will earn over the next 12 months from things like super and investments. The percentage they use is called a “deeming rate”. This estimate also affects the payment rates of your Age Pension under the income test (see above).
To miss out on qualifying for the Age Pension under the asset test, you need to be a homeowner and have more than $667,500 (single) or $1,003,000 (couple combined) in assets outside of your family home.