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Geoff and Hillery are age pensioners and have the following assets: Home $600,000 Contents $50,000 Car $15,000 Investment Property net rental income of $10,000 $420,000

Geoff and Hillery are age pensioners and have the following assets:

Home

$600,000

Contents

$50,000

Car

$15,000

Investment Property net rental income of $10,000

$420,000

Shares dividend yield of 4%

$100,000

Bank account interest rate 2%

$10,000

Superannuation return of 6%

$200,000

Term deposit interest rate of 4%

$50,000

Calculate their entitlement for age pension. Use the most current tables and thresholds for the current taxation year.

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