Category: Technical Library

Income Support Payments

An income support payment is a regular payment that helps you with living costs. An income support payment includes: Age pension, austudy, bereavement allowance, carer payment, disability support pension, farm household allowance, ewstart allowance, parenting payment, partner allowance, sickness allowance, special benefit, widow allowance, wife pension, youth allowanace. In addition; DVS ISP include income support supplement, service pension and veteran payment.

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Loans to fund a RAD

Loans from family to fund a RAD have impacts on the cost of care and potentially estate planning. The Aged Care Act 1997 does not preclude a family member of a resident making a contribution towards their accommodation payment.  However, an aged care provider must not accept a lump sum payment which would leave the resident with less than the minimum permissible asset level within 28 days of entry and the provider has sufficient information to know the person’s means.

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Home Care Overview

Home Care Packages provide care and support to assist older people who want to stay in their own home. To be eligible to receive a Home Care Package, a person must be assessed and approved by the Aged Care Assessment Team (ACAT). ACAT assessments determine eligibility for Government Funded Care Services. An ACAT assessment remain valid indefinitely unless the approval was granted for a specific time period.

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Superannuation

Superannuation, when held in accumulation phase by a client under age pension age, is an exempt asset for pension and aged care means testing. Account-based pensions are assessable assets that are subject to deeming except where they qualify for grandfathering.

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Gifting

Gifting is a term used when a person, or their partner, gives away or transfers assets or income and in return receives nothing or less than the market value in money, goods or services.

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Category: Technical Library

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