When will I qualify for the Aged Pension ?

Men qualify for the aged pension at age 65.

The qualifying age for women depends upon their date of birth. Refer to the table below.
 
Date of Birth Qualifying Age
Before 1/7/35
    60
1/7/35 to 31/12/36
    60.5
1/1/37 to 30/6/38
    61
1/7/38 to 31/12/39
    61.5
1/1/40 to 30/6/41
    62
1/7/41 to 31/12/42
    62.5
1/1/43 to 30/6/44
    63
1/7/44 to 31/12/45
    63.5
1/1/46 to 30/6/47
    64
1/7/47 to 30/12/48
    64.5
1/1/49 and later
    65
Other factors determining if you qualify include :

If you do not satisfy any of the above, you may qualify under an agreement with another country.

If you need more information, phone 132300 or visit Centrelink web site at http://www.centrelink.gov.au
 

Tax Breaks for Pensioners and Low Income Aged Persons

A rebate, or tax odffset exists to ensure that persons of aged pension age do not pay income tax where they have a taxable income below $ 20,000 (if single), or
$ 32,612 (combined)  if married. They also do not pay Medicare levy up to these thresholds. Usually, pensioners in this situation are not required to lodge an annual income tax return. Single pensioners earning above $ 37,880 will get no rebate. Pensioner couples earning above $ 58,244 (combined) will get no rebate.

All taxpayers are entitled to a "low income rebate" of $ 150 if their taxable income is below $ 20,700. This rebate cuts out completely at $ 24,450.


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