19 What is Centrelink's Deeming? (Illustrative Example)

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Gavin Martin, Financial Adviser and the Managing Director of Cornerstone Wealth discusses the Centrelink Age pension.

Deeming - Example
Brian is single and has the following investments:
Bank account $ 4,473 @ 1% $ 44 pa
Term deposit $ 72,000 @ 3% $2,160 pa
Shares $ 28,000 $1,120 pa
Total $104,473 $3,324 pa ($169 pf)
Brian's deemed income
First $ 48,600 @ 1.75% $ 851 pa
Remaining $ 55,873 @ 3.25% $1,816 pa
Total $104,473 $2,667 pa ($103 pf)

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