Tag: means tested fee


Countdown to Increase in Aged Care Fees

Countdown to Increase in Aged Care Fees

The current residential aged care system rewards residents who are able to move to an aged care facility and rent the former home in order to help pay their daily accommodation payment (DAP). Depending of how the family structure their finances, it is possible to ensure that the rental income does not count towards the aged care means tested fee calculation. This loophole is closing...

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Pensioners may be forced to sell Sydney homes as government tightens means testing

Pensioners may be forced to sell Sydney homes as government tightens means testing

Although the new rule are proposed to only take effect early next year, we can’t help but worry about the possible implications it may bring to retirees entering residential aged care. Starting 1 January 2016, rental income will no longer be exempted from means testing of age care facility fees. This may result in more retirees opting to sell their home instead or of keeping there...

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