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Kaplan SRP Assignment - Income & Asset Tests

Discussion in 'Financial Planning Study Group' started by shawti, 13th Oct, 2012.

  1. shawti

    shawti Member

    7th Dec, 2011
    Perth, WA
    Can someone please help me to understand how to calculate the Income & Asset Tests? I'm working on Michael's Aged Pension entitlements
    Either the notes don't break it down enough, or I just don't understand it!

    Income Test:
    when it comes to your bank accounts etc, Is it based on, as the title suggests, the INCOME received from them i.e annual interest earned on the CMT of $175,000, rather than the $175,000 itself?
    Last edited by a moderator: 13th Oct, 2012