Fast Facts
Updated March 2024 for financial year 2023-24, unless otherwise stated
Fast Facts is a comprehensive and easy to use online resource for finance professionals. It brings together useful rates and thresholds from a range of Government sources and is updated quarterly to provide you with the latest information. Bookmark this page to have this resource at your fingertips when you need it.
- Residential aged care – Entry from 1 July 2014
Daily means-tested amount
(Income-tested amount + asset-tested amount) / 364
Income-tested amount
Single
(Annual assessable income – $32,819.80) x 50%
Couples (each)
(Annual assessable income – $32,195.80) x 50%
Asset-tested amount
17.5% of assets between $59,500 and $201,231.20
1% of assets between $201,231.20 and $484,693.60
2% of assets above $484,693.60
Accommodation payments
Ongoing care fees
| Home cap [21] | $201,231.20 |
| Maximum accommodation supplement | $68.14 |
| Minimum assets after paying Refundable Accommodation Deposit | $59,500.00 |
| Interest charge on outstanding Refundable Accommodation Deposit | |
|---|---|
| – 1 April 2024 to 30 June 2024 | 8.34% |
| – 1 January 2024 to 31 March 2024 | 8.38% |
| Basic daily care fee | $61.96 |
| Daily means-tested care fee [22] (Daily means-tested amount – maximum accommodation supplement) | |
|---|---|
| Annual cap | $33,309.29 |
| Lifetime cap | $79,942.44 |
[21] Applies separately to both members of a couple.
[22] Cannot exceed the recipient’s cost of care.
- Home care – Received from 1 July 2014
Basic daily fee
| Package level 1 | $11.43 |
| Package level 2 | $12.08 |
| Package level 3 | $12.42 |
| Package level 4 | $12.75 |
Income-tested care fee [23]
| Assessable income (single) p.a. | Annual income-tested care fee |
|---|---|
| Less than or equal to $32,819.80 | Nil |
| Between $32,819.80 and $63,351.60 | (Annual assessable income – $32,819.80) x 50% up to maximum of $6,661.80 |
| Greater than or equal to $63,351.60 | $6,661.80 + (Annual assessable income – $63,351.60) x 50% up to maximum of $13,323.68 |
| Assessable income (couple living together) p.a. each | Annual income-tested care fee |
| Less than or equal to $25,420.20 | Nil |
| Between $25,420.20 and $48,432.80 | (Annual assessable income – $25,420.20) x 50% up to maximum of $6,661.80 |
| Greater than or equal to $48,432.80 | $6,661.80 + (Annual assessable income – $48,432.80) x 50% up to maximum of $13,323.68 |
| Assessable income (couple illness separated) p.a. each | Annual income-tested care fee |
| Less than or equal to $32,195.80 | Nil |
| Between $32,195.80 and $62,727.60 | (Annual assessable income – $32,195.80) x 50% up to maximum of $6,661.80 |
| Greater than or equal to $62,727.60 | $6,661.80 + (Annual assessable income – $62,727.60) x 50% up to maximum of $13,323.68 |
| Lifetime cap | $79,942.44 |
