Don't Get Deemed Out! A Simple Guide to Australia's Age Pension Rules

Understanding the hidden rules that affect your retirement income. 

Deeming Rules: The Aussie Way to Calculate Your Pension

In Australia, the government uses 'deeming rules' to estimate your income from financial assets. This affects your pension eligibility and amount. Let's break it down!

What are Deeming Rules?

Deeming rules assume your financial assets earn a certain income, regardless of their actual performance. It's like the government is saying, "Hey, we know you've got some smart investments, but we'll just assume they're earning a certain rate."

How Do Deeming Rules Work?

Eligible Assets: Bank accounts, term deposits, shares, and more.
Deeming Rates: Two rates apply, depending on your asset value. As of Dec 2024:
Singles: 0.25% for the first $60,400, then 2.25% for the rest.
Couples: 0.25% for the first $100,200, then 2.25% for the rest.
Deemed Income: The government calculates your deemed income based on these rates.

What's the Point?

Deeming rules affect your pension eligibility and amount. They help ensure everyone gets a fair go.

Tips and Tricks

Calculate your deemed income.
Check if you're eligible for a pension.
Adjust your assets to optimize your pension.
Consult a financial advisor if needed.

Remember

Actual income doesn't matter; deemed income does.
Some assets, like your home, are exempt.
Deeming rates and asset limits may change, so stay updated!

For more info, visit the Services Australia website.

Overseas Assets & Aussie Pension

Overseas assets in Aussie pension game? Unravel the mystery, don't be lame!

Diving into the world of Aussie pensions with a global twist, let's unravel the mystery of how overseas assets can sway your retirement purse. Get ready to convert those foreign properties into Aussie dollars and see how they stack up against the asset test limits that took effect on September 20, 2024.

Here's the lowdown on the asset test caps for partial pension eligibility:

Single home owners: $695,500 AUD

Single non-homeowners: $947,500 AUD

Couples (homeowners): $1,045,500 AUD

Couples (non-homeowners): $1,297,500 AUD

Let's take a fun ride through some hypotheticals with your folks, who are applying as a duo and own a home down under.

Scenario 1: Your parents own a property overseas worth 1 million RMB. Let's turn those yuan into Aussie dollars at assume exchange rate of 1 AUD = 4.65 RMB:

1,000,000 ÷ 4.65 = 215,053.76 AUD

Add to that their other assets in Australia, valued at 400,000 AUD, and we get a total asset tally of:

215,053.76 + 400,000 = 615,053.76 AUD

Comparing this to the asset test limit for a couple who own a home:

Total assets (615,053.76 AUD) < Limit for couple homeowners (1,045,500 AUD)

Conclusion: Your folks might be in the money for a slice of that pension pie. But hold your horses; we need to crunch some income test numbers and consider other factors for the final tally.

Scenario 2: Now, let's ramp it up with a 3 million RMB overseas property. Converting that to Aussie dollars:

3,000,000 ÷ 4.65 = 645,161.29 AUD

With the same 400,000 AUD in other Aussie assets, the total asset sum is:

645,161.29 + 400,000 = 1,045,161.29 AUD

Pitting this against the asset test limit:

Total assets (1,045,161.29 AUD) is a hair's breadth below the limit for couple homeowners (1,045,500 AUD)

Conclusion: Your parents might still scrape by with a sliver of pension, but it's a tightrope walk. A slight bump in other assets, and they could tip over the limit, losing their pension.

Remember, the real pension payout is a dance between income tests and other factors. For the nitty-gritty, it's best to consult Centrelink for the most accurate assessment. After all, when it comes to pensions, every little bit counts! 

ComfyUI & Stable Diffusion: The Ultimate Resource Hack - 1 Minute to Sync Models and Nodes - ComfyUI & Stable Diffusion：资源黑客终极指南 - 1分钟同步模型和节点

Stop Wasting, Start Syncing! - 停止浪费，开始同步！

Fed up with the hassle of double-dipping into model installations? Dive into our 60-second hack to sync ComfyUI with your local Stable Diffusion WebUI, sparing you the agony of redundant setups. We'll show you how to effortlessly glide through model, node, CLIP, VAE, and Lora configurations, turning your dual UI woes into a thing of the past. Plus, for path-confused AI artists, we've got the config file right here, ready for a quick tweak and roll.

Ready to unleash the power of your AI art tools without the clutter? First, hunt down that hidden gem in your ComfyUI folder—the 'extra_model_paths.yaml.example' file. Change its file name to ‘extra_model_paths.yaml’, and boom, you're in the game. Fire up your favorite text editor, or if you're feeling commando, dive into the terminal (Mac/Linux) or command prompt (Windows). Tweaking this configuration file to harness the magic of Stable Diffusion WebUI models, nodes, CLIP, VAE, and Lora, all from the cozy confines of your ComfyUI. The specific configuration file can refer to the following example.
# Rename this to extra_model_paths.yaml and ComfyUI will load it

# config for a1111 ui

a111:

    base_path: /Users/your_username/stable-diffusion-webui/  # 指向Stable Diffusion WebUI的安装路径

    checkpoints: models/Stable-diffusion  # Stable Diffusion模型的路径

    configs: models/Stable-diffusion  # Stable Diffusion配置文件的路径

    vae: models/VAE  # VAE模型路径

    loras: |

         models/Lora  # Lora模型路径

         models/LyCORIS  # LyCORIS模型路径（如果有的话）

    upscale_models: |

         models/ESRGAN  # ESRGAN模型路径

         models/RealESRGAN  # RealESRGAN模型路径

         models/SwinIR  # SwinIR模型路径

    embeddings: embeddings  # 文本嵌入路径

    hypernetworks: models/hypernetworks  # 超网络模型路径

    controlnet: models/ControlNet  # ControlNet模型路径

# config for comfyui

comfyui:

    base_path: /Users/your_username/ComfyUI/  # ComfyUI的安装路径

    checkpoints: /Users/your_username/stable-diffusion-webui/models/Stable-diffusion  # 指向A1111安装目录下的Stable Diffusion模型

    clip: /Users/your_username/stable-diffusion-webui/models/clip/  # 指向A1111的CLIP模型路径

    clip_vision: /Users/your_username/stable-diffusion-webui/models/clip_vision/  # CLIP视觉模型路径

    configs: /Users/your_username/stable-diffusion-webui/models/configs/  # Stable Diffusion的配置文件路径

    controlnet: /Users/your_username/stable-diffusion-webui/models/ControlNet/  # 指向ControlNet模型的路径

    embeddings: /Users/your_username/stable-diffusion-webui/embeddings/  # 嵌入模型路径

    loras: /Users/your_username/stable-diffusion-webui/models/Lora/  # Lora模型路径

    upscale_models: /Users/your_username/stable-diffusion-webui/models/upscale_models/  # 指向超分辨率模型路径

    vae: /Users/your_username/stable-diffusion-webui/models/VAE/  # VAE模型路径

All paths must be absolute paths to where the actual files are located on your system. - 所有路径必须是你系统上实际文件所在的绝对路径。