Finally some
good news...
the maximum interest rate that can be charged on any accommodation
bond has been reduced to 8.76% for residents entering care from January
1st 2009 (it was 11.31%) .
The current holiday period is a great opportunity
to spend quality time with your family.
But it can also be when you realise
that more care is needed than is available in the home environment.
Don't
stress any further, talk to us about your loved one's care needs and we can talk
to you about the best care and accommodation options available.
Send an
Online Enquiry
last updated
2nd Jan 2009 |
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|
Income Tested Fee - Estimation
| Financial
Assets
*1
| Deemed
Income
*2 *3 |
Means
Tested
Income
based on
Assets
*4
|
Allowed
Income | Tested
Income
| Income
Tested
Fee
Yearly |
Income
Tested
Fee
Daily | |
$73,467 | $3,588 | $14,368 | $17,955 | $0 |
$0 | $0.00 | | $97,795 | $5,048 |
$13,784 | $17,955 | $876 | $365 | $1.00 |
| $120,000 | $6,380 | $13,176 | $17,955
| $1,788 | $745 | $2.04 | |
$220,000 | $12,380 | $10,776 | $17,955 | $5,388
| $2,245 | $6.15 | | $320,000 |
$18,380 | $8,376 | $17,955 | $8,987 | $3,745 |
$10.26 | | $500,000 | $29,180 | $1,565
| $17,955 | $12,790 | $5,329 | $14.60 |
| $500,000 | $29,180 | $4,130 | $17,955
| $15,355 | $6,398 | $17.53 | |
$700,000 | $41,180 | $0 | $17,955 | $23,412 |
$9,755 | $26.73 | | $1,000,000 | $59,180
| $0 | $17,955 | $41,412 | $17,255 | $47.27
| | $1,138,835 | $67,510 | $0 |
$17,955 | $49,554 | $20,648 | $56.57 |
Notes:
*1 Financial assets such as bank accounts, managed
funds, loans, bonds, debentures, shares and gifts over $10,000 in any one year
are deemed.
Excluded from financial assets are accommodation bonds, your
family home, contents, holiday home, investment property, car, boat, caravan,
pre-paid funerals, and gifts up to $10,000 per year.
*2 The first $41,000
of financial assets are deemed to earn 4% and everything above $41,000 is deemed
to earn 6% (first $68,200 for couples).
*3 If other income is received
such as superannuation, overseas pensions, allocated pensions, rental income *5,
and certain types of annuities - this income will need to be added in order to
calculate the income tested fee.
*4 Includes means tested pensions such
as the Centrelink age pension and DVA service pensions.
*5 some exemptions
apply - speak with an aged care financial planner to discuss your individual situation.
This income tested fee information should be used as a guide only and we recommend
that you discuss your individual situation with a qualified aged care financial
advisor.
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complete all the important steps needed to achieve a successful aged care
placement,