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Technical Update: 2021-2022 Parameter changes (Tasman v5)

19 July 2021 (Tasman v5)

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Don't forget to refresh your case results

The changes below will apply to all cases that are solved on or after 19 July 2021 (irrespective of the case creation date).  If your scenario was solved before this date, click ‘Start solve’ again to update your results, ensuring all scenarios are using the same technical details. For more information, see How to check when your results were created.

Technical update

Several technical parameters have been updated to be in line with new government published values for 2021-2022.

HECS-HELP Debt: Repayment thresholds

Based on the Australian Tax Office’s 'Study and training loan repayment thresholds and rates' for 2021-22.  Each threshold figure has increased roughly 0.85% from that of the previous year.

Aged Care: Fees and Means tests thresholds

Based on the Department of Health’s ‘Schedule of Fees and Charges for Residential and Home Care: From 1 July 2021’. Note that these figures only apply to care recipients that first entered care from 1 July 2014. All figures have been indexed upwards approximately 0.85-0.95% from the previous year's, with the maximum permissible interest rate going up 0.75% from 4.01% to 4.04%.

Age Pension: Deeming rates and Means tests thresholds

Based on Services Australia’s ‘A guide to Australian Government payments 1 July 2021 to 19 September 2021’. Deeming rate thresholds have raised about 11.3%, while asset test thresholds have moved up around 9%, and income test thresholds are higher by about 11-12% for singles and couples.

Family Tax Benefit - Parts A & B: Rates and Income test thresholds

Based on the Department of Social Service’s ‘Family Assistance Guide: Version 1.230 - Released 1 July 2021’. Maximum payments, supplements, allowances have all increased about 0.9%, while income thresholds are higher by 0.65%.

Faster solving times (popular request!)

We've increased Pathfinder's solving capacity so you should see some improvements when you click the Start solve button:

  • Faster solving times - for most cases, most of the time, the solve time should be faster. In our testing, complex cases solve twice as quickly, and really simple cases can solve in less than a second! 

  • Fewer 'All our solvers are busy' messages - When you click solve, you will be less likely to see the 'All our solvers are busy' message - But, if you do, after clicking Start solve again, you'll be more likely to find a solver on your second attempt without waiting too long.

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