Facts & Figures
Reasonable Benefit Limit  
July 2000
Death Benefit Superannuation Payments
Maximum Deductible Contribution   Other Termination Payments
Superannuation Guarantee   Pension Valuation Factors & Life Expectancies
Tax Rates   Superannuation Surcharge
Personal Marginal Tax Rates (Resident)   Preservation Ages
Rebates   Index Numbers
Eligible Termination Payments   To CentreLink Reference Guide
Reasonable Benefit Limit
(2000/01)
Lump Sum RBL
$506,092
Pension RBL
$1,012,181
2000 Indexation factor for transitional RBL 
1.042
Maximum Deductible Contributions
(2000/01)
Age of Member
MDC
$3,000 +
75% Rule
Under 35
$11,388
$14,184
35 to 49
$31,631
$41,175
50 and over
$78,445
$99,593
Superannuation Guarantee
1997/1998 6% 2001/2002 8%
1998/1999 7% 2002/2003 9%
1999/2000 7% 2003/2004 9%
2000/2001 8%
No SG payable if earnings <$450 in a month.
Maximum Contribution Base $26,300 per quarter.
Tax Rates
 
from 1/7/00
from 1/7/01
Company Tax
34%
30%
Superannuation Funds
15%
15%
excessive non-arms length income and private company dividends
47%
47%
Insurance Bonds
34%
30%
Friendly Society Bonds
33%
30%
Personal Marginal Tax Rates (Resident) - July 2000
Taxable Income
MTR
Tax Payable
Up to $6,000
Nil
Nil
$6,001
- $20,000
17%
$2,380
$20,001
- $50,000
30%
$11,380
$50,001
- $60,000
42%
$15,580
Excess over $60,000
47%
Medicare Levy
1.5%
Family Tax Assistance is not included in the Tax Free Threshold. See adviserNET PAYE tax calculator.
Rebates
Max 1999/2000
Lower Threshold
Cut Out Threshold
Low Income
$150
$20,000
$23,750
Pensioner/Low Income Aged Persons
- Single
$1,358
$12,190
$23,054
- Couple (each)
$980
$10,300
$18,140
Illness separated couple
$1,296
$11,880
$22,248
Combined income for Low Income Aged Persons Rebate must be less than $36,280.
 
Eligible Termination Payments
(2000/01)
Undeducted Contributions Exempt
Post 1/7/94 Invalidity Component Exempt
CGT Exempt Component Exempt
Concessional Component 5% at MTR
Pre 1/7/83 Component 5% at MTR
Post 30/6/83 Component:  
Age
Amount
'Taxed' Element
'Untaxed' Element
Under 55 All
20%
30%
55 and over First $100,696
0%
15%
Over $100,696
15%
30%
Excessive Component
47%
Tax Free Amount of Bona Fide Redundancy $5,062 + $2,531 for each completed year of service.
Death Benefit Superannuation Payments
Up to Deceased's Pension RBL
Tax
Paid to a Dependant
Nil
Paid to a Non-Dependant
- Pre 1/7/83 component
5% at MTR
- Post 30/6/83 component 'taxed'
15%
- Post 30/6/83 component 'untaxed'
30%
Excess benefits above Pension RBL
47%
Other Termination Payments
Period of Accrual
Assessable Income
Tax
Rate
Unused Long Service Leave
Pre 16/8/78
5%
Marginal Rate
16/8/78 - 17/8/93
100%
30% Maximum
Post 17/8/93
100%
Marginal Rate
Accrued Annual Leave
16/8/78 - 17/8/93
100%
30% Maximum
Post 17/8/93
100%
Marginal Rate
Bona fide redundancy, invalidity or approved early retirement scheme payments:
Period of Accrual
Assessable Income
Tax
Rate
Unused Long Service Leave
Pre 16/8/78
5%
Marginal Rate
Post 15/8/78
100%
30% Maximum
Accrued Annual Leave
Full Period
100%
30% Maximum

Add Medicare Levy (1.5%) to all rates in this column
Pension Valuation Factors & Life Expectancies
Your Age Now
Maximum PVF
Minimum PVF
1995/97 Male
Life Tables Female
20
10.0
28.6
56.61
62.07
21
10.0
28.5
55.68
61.09
22
10.0
28.3
54.75
60.12
23
10.0
28.1
53.81
59.14
24
10.0
28.0
52.88
58.16
25
10.0
27.8
51.94
57.18
26
10.0
27.6
51.01
56.21
27
10.0
27.5
50.07
55.23
28
10.0
27.3
49.14
54.25
29
10.0
27.1
48.20
53.27
30
10.0
26.9
47.26
52.30
31
10.0
26.7
46.32
51.32
32
10.0
26.5
45.38
50.35
33
10.0
26.3
44.44
49.38
34
10.0
26.0
43.50
48.41
35
10.0
25.8
42.57
47.44
36
10.0
25.6
41.63
46.47
37
10.0
25.3
40.69
45.50
38
10.0
25.1
39.75
44.53
39
10.0
24.8
38.81
43.56
40
10.0
24.6
37.88
42.60
41
10.0
24.3
36.94
41.64
42
10.0
24.0
36.01
40.68
43
10.0
23.7
35.08
39.72
44
10.0
23.4
34.15
38.76
45
10.0
23.1
33.22
37.81
46
10.0
22.8
32.30
36.86
47
10.0
22.5
31.38
35.92
48
10.0
22.2
30.46
34.98
49
10.0
21.9
29.55
34.04
50
9.9
21.5
28.64
33.11
51
9.9
21.2
27.74
32.18
52
9.8
20.9
26.85
31.26
53
9.7
20.5
25.97
30.34
54
9.7
20.1
25.09
29.43
55
9.6
19.8
24.22
28.53
56
9.5
19.4
23.36
27.63
57
9.4
19.0
22.52
26.74
58
9.3
18.6
21.68
25.86
59
9.1
18.2
20.86
24.98
60
9.0
17.8
20.05
24.11
61
8.9
17.4
19.25
23.25
62
8.7
17.0
18.46
22.39
63
8.5
16.6
17.70
21.54
64
8.3
16.2
16.94
20.70
65
8.1
15.7
16.21
19.88
66
7.9
15.3
15.49
19.06
67
7.6
14.9
14.79
18.25
68
7.3
14.4
14.11
17.46
69
7.0
14.0
13.44
16.67
70
6.6
13.5
12.80
15.90
71
6.2
13.1
12.17
15.14
72
5.8
12.6
11.56
14.40
73
5.4
12.2
10.96
13.67
74
4.8
11.7
10.38
12.96
75
4.3
11.3
9.82
12.26
76
3.7
10.8
9.27
11.58
77
3.0
10.4
8.74
10.92
78
2.2
10.0
8.24
10.28
79
1.4
9.5
7.76
9.67
80
0.0
9.1
7.30
9.09
81
0.0
8.7
6.87
8.53
82
0.0
8.3
6.46
8.00
83
0.0
7.9
6.08
7.48
84
0.0
7.5
5.73
7.00
85
0.0
7.1
5.40
6.53
86
0.0
6.8
5.10
6.10
87
0.0
6.4
4.82
5.69
88
0.0
6.1
4.57
5.32
89
0.0
5.8
4.35
4.98
90
0.0
5.5
4.16
4.67
91
0.0
5.3
3.99
4.39
92
0.0
5.0
3.86
4.15
 
Superannuation Surcharge
Taxpayers ATI - 81,493
$1,165
 = Surcharge Rate %
If ATI ³ $98,955 Surcharge rate % = 15%
ATI = Adjusted Taxable Income
  = Taxable Income + (Employer + Deductible Super Contributions
Surcharge exemption threshold $3,105
Preservation Ages
All superannuation contributions and earnings from 1 July 1999 are preserved.
People Born
Preservation Age
Before 1/7/60 55
1/7/60 - 30/6/61 56
1/7/61 - 30/7/62 57
1/7/62 - 30/6/63 58
1/7/63 - 30/6/64 59
After 30/6/64 60
Index Numbers
Quarter
CPI Factor
AWOTE Factor
Dec 85
72.7
397.10
Mar 86
74.4
404.90
Jun 86
75.6
408.30
Sep 86
77.6
419.80
Dec 86
79.8
428.40
Mar 87
81.4
429.60
Jun 87
82.6
436.20
Sep 87
84.0
444.20
Dec 87
85.5
450.10
Mar 88
87.0
458.80
Jun 88
88.5
464.80
Sep 88
90.2
470.90
Dec 88
92.0
484.90
Mar 89
92.9
492.30
Jun 89
95.2
501.10
Sep 89
97.4
508.40
Dec 89
99.2
516.60
Mar 90
100.9
524.80
Jun 90
102.5
534.10
Sep 90
103.3
541.70
Dec 90
106.0
555.60
Mar 91
105.8
564.20
Jun 91
106.0
560.80
Sep 91
106.6
567.70
Dec 91
107.6
578.80
Mar 92
107.6
588.80
Jun 92
107.3
587.30
Sep 92
107.4
585.80
Dec 92
107.9
586.80
Quarter
CPI Factor
AWOTE Factor
Mar 93
108.9
595.50
Jun 93
109.3
598.00
Sep 93
109.8
600.80
Dec 93
110.0
603.50
Mar 94
110.4
612.30
Jun 94
111.2
616.90
Sep 94
111.9
620.00
Dec 94
112.8
629.90
Mar 95
114.7
639.90
Jun 95
116.2
647.20
Sep 95
117.6
653.10
Dec 95
118.5
661.00
Mar 96
119.0
665.80
Jun 96
119.8
671.20
Sep 96
120.1
674.60
Dec 96
120.3
685.50
Mar 97
120.5
696.10
Jun 97
120.2
697.60
Sep 97
119.7
704.30
Dec 97
120.0
710.90
Mar 98
120.3
721.30
Jun 98
121.0
725.20
Sep 98
121.3
735.40
Dec 98
121.9
742.70
Mar 99
121.8
743.80
Jun 99
122.3
747.30
Sep 99
123.4
753.80
Dec 99
124.1
764.20
Mar 00
125.2
774.80
 

 
 
 
 
Facts & Figures
Centrelink Reference Guide
July 2000
Age Pension Rates   Allowance Income Test
Pension Income Test   Deeming (Financial Investments)
Pension Asset Test   Pension Bonus Payment (PBP)
Allowance Rates   Centrelink/DVA Means Testing of Income Streams
Age Pension Rates
as at 1 July 2000
 
$ Per Annum
$ Per Fortnight
Single
$10,059.40
$386.90*
Couple (each)
$8,395.40
$322.90*
*Pharmaceutical Allowance of $5.60 per fortnight (single) and $2.80 per fortnight (each, couple) is also payable in addition to this rate.
Pension Income Test
as at 1 July 2000
 
For Maximum Pension (per fortnight)
No Pension when Income Exceeds (per fortnight)
Single
$106.00
$1,087.25
Couple (combined)
$188.00
$1,816.50
For each child, add
$24.60
$24.60
Pension Asset Test
as at 1 July 2000
 
Lower Limit
Upper Limit
Single Home Owner
$133,250
$264,250
Single Non-Home Owner
$228,750
$359,750
Couple Home Owner (combined)
$189,500
$407,000
Owners (combined)
$285,000
$502,500
For Allowances, the "Lower Limit" is the disqualification limit.
Allowance Rates
as at 1 July 2000
 
$ Per Annum
$ Per Fortnight
Single
$8,967.40
$344.90
Single over 60 after 9 months
$9,698.00
$373.00
Couple (Each)
$8,088.60
$311.10
Allowance Income Test
as at 1 July 2000
Reduction
Income less than or equal to $62.00 per fortnight
Nil
Income between $62.00 and $142.00 per fortnight
50%
Income greater than $142.00 per fortnight
70%
Note: The Allowance Income Test applies to both singles and each member of a couple.
Deeming (Financial Investments) 2000 
as at 1 July 2000
Single
£ $30,800
3.5%
> $30,800
5.5%
Couple, Pensioner
£ $51,200
3.5%
> $51,200
5.5%
Couple each, non Pensioner
£ $25,600
3.5%
> $25,600
5.5%
Pension Bonus Payment (PBP)
Age pension tax free bonus lump sum of 9.4% for up to 5 years for those that qualify for the Age Pension, yet continue gainful employment for 20 hours per week from 1 July 1998.

PBP = Number of years of deferral x 9.4% x basic annual pension x number of years of deferral. 
Centrelink/D VA Means Testing of Income Streams
Classification Income Test Deductible Amount Assets Test
Complying - eg. Life or Life expectancy/fixed term pensions or annuities. Gross Income less Deductible Amount Purchase Price
Relevant Number (term)		 Exempt
Non-Complying term greater that 5 years eg. allocated pensions, allocated annuities, term certain annuities Gross Income less Deductible Amount Purchase Price
Relevant Number (term)		 Account balance or if none
PP - [(PP - RCV)/RN x term elapsed]
Non-Complying term of 5 years or less. eg. term certain annuities Deem Income Not applicable As above
Note: Income streams with a term of five years or less will be asset tested and deemed based on the purchase price which is depreciated every six months (in arrears) where there are at least two payments made annually. Where only one annual payment is made, the asset is depreciated annually in arrears.
Age Pension Age for Women
Date of Birth Qualification Age
Before 1 July 1935 60
1 July 1935 to 31 December 1936 60.5
I January 1937 to 30 June 1938 61
1 July 1938 to 31 December 1939 61.5
I January 1940 to 30 June 1941 62
1 July 1941 to 31 December 1942 62.5
I January 1943 to 30 June 1944 63
1 July 1944 to 31 December 1945 63.5
I January 1946 to 30 June 1947 64
1 July 1947 to 31 December 1948 64.5
I January 1949 and later 65
 
Commonwealth Seniors Health Card
For Clients over Age Pension age and not in receipt of a pension.
  Taxable Income Limit from 1/7/00 
Single $41,000 pa.
Couple $68,676 pa.
Couple, Illness separated $75,230 pa.
   
Health Care Card
For low income earners. Once eligible, these limits may be exceeded by up to 25%
Single $305 pw
Couple combined $508 pw
Single or Couple with one child  $542 pw
For each additional child add  $34 pw
If you have any queries, call 1800 655 901 or e-mail us at tech_services@sealcorp.com.au