From 20 September 2026 Centrelink are increasing the lower deeming rate to 1.27%, and the upper deeming rate will increase to 3.75%. This is a result of interest rates in Australia increasing due to inflation.

Deeming is a set of rules used to determine the income your financial assets create. It assumes these assets earn a set rate of income, no matter what they really earn.

If you are income tested for the Age Pension this change will affect your payments and your fortnightly payment will reduce. You will be notified by Centrelink about the reduction if applicable. 

If you are on the Low-Income Health Card this increase COULD cancel your card. You will be notified by Centrelink if your card has been cancelled.

If you are on the Commonwealth Seniors Health Card this increase COULD cancel your card. You will be notified by Centrelink if your card has been cancelled.

If yuou have any questinos, please do not hesitate to contact us, 5744 1221.

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A new range of tax measures and compliance changes were recently announced and are set to affect businesses, investors and trustees. Here is a roundup of the latest tax news plus an interesting article on pre-retirement and on protecting your small business

For many people approaching retirement, the transition from full-time work to retirement is no longer a sudden stop. Instead, it’s often a gradual process that involves reducing work hours, maintaining cash flow and continuing to build retirement savings.

One strategy that can support this approach is a Transition to Retirement Income Stream (TRIS or TTR).

Click here to find out more.

Running a business has never been easy. And, in today’s increasingly volatile environment, it’s more important than ever to ensure your business is properly protected in more ways than one.

It’s worth spending some time reviewing three key areas: insurance protection, risk management and succession planning.

Click here to read more