Fast Facts
Updated October 2024 for financial year 2024-25, 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 – $33,735.00) x 50%
Couples (each)
(Annual assessable income – $33,059) x 50%
Asset-tested amount
17.5% of assets between $61,500 and $206,039.20
1% of assets between $206,039.20 and $495,117.60
2% of assets above $495,117.60
Accommodation payments
| Home cap [21] | $206,039.20 |
| Maximum accommodation supplement | $69.49 |
| Minimum assets after paying Refundable Accommodation Deposit | $61,500.00 |
| Interest charge on outstanding Refundable Accommodation Deposit | |
|---|---|
| – 1 October 2024 to 31 December 2024 | 8.38% |
| – 1 July 2024 to 30 September 2024 | 8.36% |
Ongoing care fees
| Basic daily care fee | $63.57 |
| Daily means-tested care fee [22] (Daily means-tested amount – maximum accommodation supplement) | |
|---|---|
| Annual cap | $34,174.16 |
| Lifetime cap | $82,018.15 |
[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 | $11.72 |
| Package level 2 | $12.40 |
| Package level 3 | $12.75 |
| Package level 4 | $13.08 |
Income-tested care fee [23]
| Assessable income (single) p.a. | Annual income-tested care fee |
|---|---|
| Less than or equal to $33,735.00 | Nil |
| Between $33,735.00 and $65,020.80 | (Annual assessable income – $33,735.00) x 50% up to maximum of $6,834.77 |
| Greater than or equal to $65,020.80 | $6,834.77 + (Annual assessable income – $65,020.80) x 50% up to maximum of $13,669.63 |
| Assessable income (couple living together) p.a. each | Annual income-tested care fee |
| Less than or equal to $26,109.20 | Nil |
| Between $26,109.20 and $49,691.20 | (Annual assessable income – $26,109.20) x 50% up to maximum of $6,834.77 |
| Greater than or equal to $49,691.20 | Greater than or equal to $49,691.20 |
| Assessable income (couple illness separated) p.a. each | Annual income-tested care fee |
| Less than or equal to $33,059.00 | Nil |
| Between $33,059.00 and $64,344.80 | (Annual assessable income – $33,059.00) x 50% up to maximum of $6,834.77 |
| Greater than or equal to $64,344.80 | $6,834.77 + (Annual assessable income – $64,344.80) x 50% up to maximum of $13,669.63 |
| Lifetime cap | $82,018.15 |
