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Reducing Social Security Deeming Rates

ClosedGrant Run By: Australian Government Treasury Further Information: https://treasury.gov.au/coronavirus/households/retirees

The Government is reducing both the upper and lower social security deeming rates by a further 0.25 percentage points in addition to the 0.5 percentage point reduction to both rates announced on 12 March 2020.

The change reflects the low interest rate environment, reducing the income deemed to have been earned from interest on investments and savings allowing for an increase in social security payments.

Last Updated: 20th of July 2021
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