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Since 1 January 2008, a person or couple (whether of the same sex or a different sex) can have up to the exempt funeral investment threshold (see following table) invested in a maximum of 2 funeral investments and the investments can be exempted from the assets test.
| Date | Exempt funeral investment threshold |
| From 1 July 2024 | $15,500 |
| 1 July 2023 to 30 June 2024 | $15,000 |
| 1 July 2022 to 30 June 2023 | $14,000 |
| 1 July 2020 to 30 June 2022 | $13,500 |
| 1 July 2019 to 30 June 2020 | $13,250 |
| 1 July 2018 to 30 June 2019 | $13,000 |
| 1 July 2017 to 30 June 2018 | $12,750 |
| 1 July 2016 to 30 June 2017 | $12,500 |
| 1 July 2015 to 30 June 2016 | $12,250 |
| 1 July 2014 to 30 June 2015 | $12,000 |
| 1 July 2013 to 30 June 2014 | $11,750 |
| 1 July 2012 to 30 June 2013 | $11,500 |
| 1 July 2011 to 30 June 2012 | $11,250 |
| 1 July 2010 to 30 June 2011 | $11,000 |
| 1 July 2009 to 30 June 2010 | $10,750 |
| 1 July 2008 to 30 June 2009 | $10,250 |
| 1 January 2008 to 30 June 2008 | $10,000 |
Prior to 1 January 2008, a person or couple (whether of the same sex or a different sex) could have only one funeral investment to a maximum investment of $5,000 exempted from the assets test.
An exempt funeral investment is usually called a funeral bond or funeral fund. An exempt funeral investment:
Example: Funeral investments pay interest, so the total investment may be worth more than the exempt funeral investment threshold due to accumulated interest payments. Provided the amount INVESTED by the income support recipient does not exceed the exempt funeral investment threshold the funeral investment remains an exempt funeral investment. If an income support recipient invests more than the exempt funeral investment threshold, the funeral investment is NOT an exempt funeral investment. The whole investment is assessable under the income and assets tests.
Each member of a couple (whether of the same sex or a different sex) may invest up to the exempt funeral investment threshold in an exempt funeral investment. This means that if EACH member of a couple has an INDIVIDUAL investment of up to the exempt funeral investment threshold then the amount is an exempt asset for the couple. If a couple invest in a JOINT funeral investment then the amount invested must be no more than the exempt funeral investment threshold for the funeral investment to qualify as an exempt funeral investment.
From 1 January 2008, the exempt funeral investment threshold has been adjusted on 1 July each year in accordance with movements in the CPI.
Income test treatment of a funeral investment is discussed in 4.3.2.30.
Act reference: SSAct section 19E Exempt funeral investments