Following further reductions in the RBA cash rate, the Government amended the income test deeming rates to better reflect what retirees might actually earn on deposits. The deeming rates are used to calculate notional income on investment assets (including super savings in retirement phase), which in turn counts against the income test threshold for the Age Pension. The new lower rate of 1% p.a. and upper rate of 3% p.a. have now been applied in the Simulator.
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