Fast Facts
Updated September 2023
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 – $32,331) x 50%
Couples (each)
(Annual assessable income – $31,707) x 50%
Asset-tested amount
17.5% of assets between $58,500 and $197,735.20
1% of assets between $197,735.20 and $476,205.60
2% of assets above $476,205.60
Accommodation payments
Ongoing care fees
Home cap [21] | $197,735.2 |
Maximum accommodation supplement | $66.94 |
Minimum assets after paying Refundable Accommodation Deposit | $58,500.00 |
Interest charge on outstanding Refundable Accommodation Deposit | |
---|---|
– 1 October 2023 to 31 December 2023 | 8.15% |
– 1 July 2023 to 30 September 2023 | 7.90% |
Basic daily care fee | $60.86 |
Daily means-tested care fee [22] (Daily means-tested amount – maximum accommodation supplement) | |
---|---|
Annual cap | $32,718.57 |
Lifetime cap | $78,524.69 |
[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 | $11.22 |
Package level 2 | $11.87 |
Package level 3 | $12.20 |
Package level 4 | $12.53 |
Income-tested care fee [23]
Assessable income (single) p.a. | Annual income-tested care fee |
---|---|
Less than or equal to $32,331.00 | Nil |
Between $32,331.00 and $62,332.40 | (Annual assessable income – $32,331.00) x 50% up to maximum of $6,543.66 |
Greater than or equal to $62,332.40 | $6,543.66 + (Annual assessable income – $62,332.40) x 50% up to maximum of $13,087.39 |
Assessable income (couple living together) p.a. each | Annual income-tested care fee |
Less than or equal to $25,053.60 | Nil |
Between $25,053.60 and $47,668.40 | (Annual assessable income – $25,053.60) x 50% up to maximum of $6,543.66 |
Greater than or equal to $47,668.40 | $6,543.66 + (Annual assessable income – $47,668.40) x 50% up to maximum of $13,087.39 |
Assessable income (couple illness separated) p.a. each | Annual income-tested care fee |
Less than or equal to $31,707.00 | Nil |
Between $31,707.00 and $61,708.40 | (Annual assessable income – $31,707.00) x 50% up to maximum of $6,543.66 |
Greater than or equal to $61,708.40 | $6,543.66 + (Annual assessable income – $61,708.40) x 50% up to maximum of $13,087.39 |
Lifetime cap | $78,524.69 |