People who enter an Aged Care Facility after 1 July 2014 have their ability to contribute towards the cost of their accommodation and care calculated based on their assets and income. Refer to Residential Aged Care Means Test Factsheet. Where the calculated amounted is less the maximum accommodation supplement of $58.19 per day (as at 31 March 2020) the resident is classified as Low Means.
An insurance or investment bond is an investment which has features similar to a managed fund in terms of an investment whilst also being a life insurance policy. Centrelink assess financial assets held in a Trust structure differently to those held in a client's own name.
Our range of workshops and webinars are designed to enable advisers to
start their journey, upskill in new areas and undertake continuing
professional development across the spectrum of Aged Care Advice.