DVA Gold Card Asset Test: Limits, Grace Periods and Eligibility Pathways

When the DVA Gold Card Asset Test Actually Applies

The asset test does not apply to every Gold Card holder. It only kicks in through one specific pathway, which is why so many veterans walk into our office worried about losing a card that was never at risk to begin with.

Service Pension Pathway for Veterans Under 70

This is the only common pathway where assets matter. If you're under 70 and qualify for the Gold Card because you receive a Service Pension, your eligibility depends on staying within set income and asset limits. The DVA’s guidance for Service Pensioners on Gold Card eligibility confirms that exceeding either limit causes the card to be recalled, although a period of grace may apply.

For Service Pensioners under 70, DVA lists several possible Gold Card eligibility triggers, including: 

• Permanent blindness in both eyes
• The treatment benefits the income/assets test,
• Disability Compensation Payment at 50% of the general rate or higher
• At least 30 MRCA impairment points

The income/assets limits matter where your Gold Card eligibility depends on the treatment benefits income/assets pathway. The key question is which Gold Card pathway DVA has assessed you under, because only some pathways rely on income and asset limits.

Pathways That Don't Trigger an Asset Test

Most Gold Card holders never see an asset test at all. The official DVA eligibility criteria for the Veteran Gold Card confirm that several pathways do not depend on income and asset testing:

• Veterans assessed at 60 or more impairment points under MRCA
• Veterans eligible for the Special Rate Disability Pension (SRDP)
• Veterans aged 70 or older with qualifying service
• Recipients of Disability Compensation Payment at the special rate, intermediate rate, or extreme disablement adjustment rate under the VEA
• War widows and widowers, and certain wholly dependent partners

If you qualify through one of these non-means-tested Gold Card pathways, your savings, super balance or investment portfolio do not determine whether you keep the Gold Card under that pathway. The policy library entry on the Gold Card for all conditions sets out the full list of pathways that grant the card on clinical grounds alone.

Current Asset and Income Limits for Service Pensioners

For those affected, the limits are set under what DVA calls the income/assets reduction limit, or IARL. They are reviewed and indexed regularly, so the figures you read today may not be the figures that apply six months from now.

How the Limits Are Structured

Single veterans face one set of limits, and partnered veterans face a higher combined set. Homeowners and non-homeowners are also treated differently, because the principal place of residence is treated as an exempt asset under the assets test rules used by DVA. Non-homeowners get a concessional higher asset limit to reflect the fact they need additional assets to secure accommodation.

The four key thresholds you should know about are:

• Single homeowner income and asset limits
• Single non-homeowner income and asset limits
• Partnered combined homeowner income and asset limits
• Partnered combined non-homeowner income and asset limits

Where to Find Current Figures

DVA publishes the live thresholds in its summary of pension rates, limits and allowances, which is updated each March and September after indexation. From 20 September 2025, veteran pensions and compensation payments were indexed in line with the Pensioner and Beneficiary Living Cost Index. 

As at 20 March 2026, DVA lists the Gold Card income limit for Service Pensioners as $544.20 per fortnight for singles and $940.40 per fortnight for couples combined. 

The asset limits are $376,000 for single homeowners, $575,000 for homeowner couples combined, $634,000 for single non-homeowners and $833,000 for non-homeowner couples combined. Check DVA’s current page before relying on any figure, because thresholds can change.

I recommend checking the DVA page directly rather than relying on third-party summaries that may be out of date. The numbers move twice a year, and even a small change can affect your card status.

How the Income and Assets Reduction Limit Works

The IARL is not the same as the standard pension cut-off limit. It is a specific threshold that determines whether you continue to qualify for treatment at departmental expense.

What Counts as an Assessable Asset

DVA assesses most things you own at market value. Common assessable assets include:

• Savings
• Term deposits
• Shares
• Managed funds
• Investment properties
• Second vehicles
• Household contents
• Boats
• Surrender value of investment-style insurance products

Superannuation also counts once you reach pension age or start drawing a pension or income stream from the fund.

The assets test guidance from DVA lists the full set of inclusions. A few items are exempt, including your:

• Principal home
• Certain pre-2007 asset-test exempt income streams
• Funeral bonds within set limits
• Aids and appliances for a DVA pensioner

How Deeming Affects Your Position

If you hold financial assets, DVA does not look at the actual returns you receive. Instead, it applies deeming rates to calculate notional income. As at 20 March 2026, DVA lists the deeming rates as 1.25% up to the deeming threshold and 3.25% for the remaining balance. The current thresholds are $64,200 for singles and $106,200 for couples combined.

This matters because deeming can push your assessable income up even when your real returns are low. Pensioners with significant cash balances or share portfolios can find themselves over the income limit purely because of how deeming is calculated.

The 13-Week Period of Grace

If your income temporarily rises above the IARL, you do not lose your Gold Card straight away. DVA applies a period of grace that gives you up to 13 weeks of continued coverage.

When the Grace Period Helps You

The grace period applies when an increase in income reduces your Service Pension below the threshold. The grace period can apply where increased income causes the IARL threshold to be exceeded, provided the resulting Service Pension reduction does not exceed the IARL by more than 50%. After that, eligibility ends. The official guidance on the period of grace provisions explains how the rule is applied in practice.

This buys you time to adjust. A retiree drawing a one-off lump sum from a financial product, or a veteran whose investment income spikes unexpectedly, can keep accessing DVA-funded treatment while sorting out their position.

When the Grace Period Does Not Help

The grace period does not apply in three situations:

• Your pension was being paid under the income test and an asset increase pushes you onto the assets test
• Your pension was already paid under the assets test and your assets increase further
• Your income rises during the 13-week window to more than 150 per cent of the limit, in which case eligibility ends immediately

In these scenarios, the period of grace provisions generally do not apply. If eligibility is lost, DVA notifies you in writing and recalls the card. This is why we always tell clients to understand the structure of their pension calculation, not just the dollar amount they receive each fortnight.

What Happens If You Lose Gold Card Eligibility

Losing the Gold Card via the IARL is not a personal judgment on your service. It simply means the pathway you used no longer fits your circumstances, and DVA must apply the rules as written.

Notification and Card Recall

If you lose eligibility, DVA notifies you in writing and your card is recalled. The treatment entitlement ends from the date of recall, although coverage for treatment already given remains in place. You can still access services for any DVA-accepted condition through a White Card, which is issued in lieu of the Gold Card in many cases.

Bereavement Provisions

If your income and assets push you over the limit because your partner has died, DVA provides a 98-day bereavement period during which you keep using your card. This is set out in the DVA Gold Card eligibility policy in CLIK. At the end of the bereavement period, the card is recalled.

If your partner was a Gold Card holder, you may have separate eligibility as a wholly dependent partner. We see plenty of cases where surviving partners do not realise they have their own pathway to a Gold Card and assume they have lost coverage entirely.

The Practical Impact

In our claims work, we often see veterans worry about the asset test before confirming which Gold Card pathway applies. Many are not affected by the asset test because their eligibility is tied to impairment points, SRDP or another non-means-tested pathway. The safest first step is to identify the pathway before worrying about thresholds. 

Our team of former DVA delegates, the largest such team in Australia, has supported over 10,000 veterans through these eligibility questions. The single most useful thing you can do is confirm which pathway you sit on before worrying about any threshold.

VETS Act Changes from 1 July 2026

The biggest legislative reform in decades took effect on 1 July 2026, and it has direct implications for the asset test rules.

What Stays the Same

The Veterans' Legislation Reform frequently asked questions published by DVA confirm that pathways granting the Gold Card without income and assets testing will continue unchanged. If you qualify through 60 impairment points, SRDP, or age 70 with qualifying service, the asset test will still not apply to you after 1 July 2026.

What Changes

From that date, the VEA and DRCA closed new claims. All new permanent impairment claims will be assessed under the improved MRCA. A new pathway called the Additional Disablement Amount (ADA) will open for veterans over pension age with high-level impairment, and this pathway will also grant a Gold Card without an asset test.

For Service Pensioners under 70 who rely on the income and assets pathway, the rules are not being abolished. The threshold structure continues, indexed twice a year as it is now. The reform is not a free pass: it is a shift in the legal framework around how impairment claims are assessed.

If you currently rely on the Service Pension pathway, it may be worth checking whether your accepted service-related conditions should also be considered under a separate Gold Card eligibility pathway. Our permanent impairment claims service is designed specifically to help veterans assess this question.

A Practical Way to Check Which Gold Card Pathway Applies

Before worrying about asset limits, identify the pathway DVA has assessed or may assess. In our claims work, this is usually the step that clears up the confusion.

Start with these questions:

• Are you under 70 and receiving a Service Pension?
• Is your Gold Card linked to the treatment benefits income/assets pathway?
• Have you been assessed at 60 or more MRCA impairment points?
• Are you eligible for SRDP or, from 1 July 2026, could ADA be relevant?
• Do you have qualifying service and are you aged 70 or older?
• Are you a wholly dependent partner or an eligible dependant?

The asset test question should only come after that pathway check. Many veterans worry about savings, super or a home sale before confirming whether their Gold Card pathway is means-tested at all. A clear pathway check can prevent unnecessary stress and help you focus on the evidence DVA actually needs.

Common Misconceptions About the Gold Card Asset Test

A lot of what circulates in veteran communities about the asset test is either incomplete or flat wrong. Here are the corrections we make most often.

"The Gold Card Has a Universal Asset Test"

It does not. As we explained above, most pathways do not involve an asset test at all. The test is specific to the Service Pension pathway for veterans under 70.

"Selling the Family Home Will Cost Me My Card"

Your principal place of residence is treated as an exempt asset. Selling it and holding the proceeds in cash or investments converts an exempt asset into an assessable one, which can affect your position. If you are downsizing or relocating, talk to a DVA-savvy financial adviser before settling.

"Receiving Permanent Impairment Compensation Will Push Me Over the Limit"

Permanent impairment compensation under MRCA is not subject to the standard income or assets test for service pensioners. Disability Compensation Payments and equivalent MRCA payments are also exempt from these tests. The income test rules used by DVA confirm this distinction.

"I Can Just Apply for a Gold Card If I Need One"

Some Gold Cards are issued automatically when DVA already knows you meet the eligibility criteria. If you do not receive one, DVA provides application pathways for eligible former serving members and other eligible groups. For many MRCA veterans, permanent impairment assessment is an important Gold Card pathway, but it is not the only pathway. Our blog explains how the 60 impairment points threshold for the DVA Gold Card is assessed and how accepted conditions are considered in a permanent impairment assessment.

"If I Lose the Card, I Lose All DVA Support"

Losing the Gold Card does not mean losing all entitlements. A White Card still covers treatment for any DVA-accepted condition. Other benefits such as compensation payments, rehabilitation programs, and Veterans' Home Care eligibility are governed by separate rules. Our overview of DVA pensions and how means testing affects them walks through how the different benefits interact.

Where to Go From Here

At Veterans First Consulting, we help veterans understand which Gold Card pathway may apply to their service-related conditions and claim history. If you're unsure which pathway applies to you, or you suspect your accepted conditions were not fully considered in a permanent impairment assessment, we can help. Contact our team to talk through your circumstances and get clear support with the DVA claims process.