Income and assets test

Hi Everyone, been lurking around for a while but first time posting anything. I'm really confused by the income and assets test with super and other assets. I can work out the individual amounts OK but my query is: Does the asset test and the income test apply together or is it one or the other. For example, I may have assets worth above the pension threshold but below the part pension threshold. I understand in this case that the pension is reduced by $3 per 1000. I see there is a deeming rate that is applied to income producing assets as well. The question then is does the full pension get reduced by the asset test rule of $3 per 1000 and again by the income test.

Sorry for the long winded post but I couldn't make it shorter.
Thanks

 

Yes they work together

See Centrelink Age Pension Calculator 19.7
for a nice calculator, easy to use