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On Tuesday 29 March, Treasurer Josh Frydenberg handed down the 2022 Federal Budget, which was eagerly awaited given the impact it could have on the forthcoming election outcome. The Treasurer detailed the current state of the economy, a plan to help Australia move past a difficult two-year period following the COVID-19 pandemic and a number…
This handy guide presents the key facts and figures that are useful for someone dealing with SMSFs. No need to look it up on the internet, our facts and figures guide has it all in one place. The guide covers tax, tax offsets, superannuation, social security and aged care.
Brought to you by Challenger Tech A key consideration for many individuals when moving into residential aged care is the decision around the former home. The technical team from Challenger provide a recap of the general rules for the social security and aged care assessment of the former home as well as their application to…
Brought to you by ChallengerTech Means-tested care fee (MTCF) is a component of periodical aged care fees. It is usually a calculated amount and is a co-contribution towards cost of care for those who have the means. It is calculated based on assets and income of an aged care resident and is subject to an…
The need for aged care advice is increasing with Australia’s ageing population providing more opportunities for professionals to expand their service offer into this market. The aged care system is complex and subject to regular review and reform making aged care advice more important to ensure the right outcomes are achieved.
One benefit of receiving the Age Pension is the Pensioner Concession Card (PCC). But how much value can the PCC provide your client?
From time to time, the Challenger Tech team come across situations where most of the client’s wealth is tied up in the family home, and in some cases, clients express a wish to retain the home. Where the RAD is mostly unpaid, it can place significant pressure on cash flow. Through a case study, the team looks at some of the considerations when it comes to children paying the RAD for their parents.
The principal home exemption for clients entering a residential aged care facility can make a considerable difference in their aged care fees. In some cases, the availability of the home exemption on the date of entry could even determine whether the client is a low means resident or an accommodation payment resident.
Aged care can be a complex and an intricate area of advice. Although detailed laws have been laid out, certain types of scenarios require a practical understanding of how these laws are applied.
In this article, we have the pleasure of gaining insights from three experienced aged care advice professionals from different areas in the country who provide their thoughts on aged care advice.
For many clients, the receipt of an inheritance brings with it both financial and emotional considerations. The receipt of an inheritance could improve a client’s financial position, allowing for the reduction of debt or increased savings and investments. For Age Pension recipients there are additional advice considerations following the receipt of an inheritance and these are the focus of this paper.
This Challenger Tech webinar will look at the structure of subsidised home care, the funding available from a home care package and strategies to reduce the client contribution for home care.