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Residential Care Fee Estimator

for people entering residential care from 1 July 2014 onwards
Important information

This tool is provided as a guide for your general information only. It can help you estimate the fees and payments you may be asked to pay while living in an aged care home. It does not cover facilities such as retirement villages.

The actual amount of the fees and payments payable will depend on your personal situation, the time you enter care, the information you provide to the relevant Australian Government Departments and your personal and financial information at the time of the assessment. If you do not complete the assessment, you may be asked to pay the maximum fees and charges.

 

This Fee Estimator is not a substitute for financial advice. You should consider seeking independent legal, financial, taxation or other advice to check how the estimate relates to your particular circumstances.

We respect your privacy and the information you provide will not be used for any other purpose except to provide an estimate. The Australian Government will not store the information you enter into the fee estimator. This information will be deleted once you close your internet browser.

Read the full disclaimer.

The person entering care
Income

Income includes:

  • income support payments from the Australian Government such as the age pension or service pension
  • net income from rental property
  • war widow/widower pensions and some disability pensions
  • net income from business, including farms
  • income from superannuation income streams such as annuities and allocated pensions
  • overseas pension income
  • family trust distributions
  • dividends from private company shares.


Do not include interest from your bank accounts or financial investments. Your financial assets will be deemed to earn a certain rate of income.

For more guidance on what types of income to include, see the Income and Assets Checklist.

To convert your fortnightly income to annual income, multiply your fortnightly income by 26.
Homeowner status

Your home will be included as an asset unless it is occupied by a protected person. A protected person is:

  • your partner or dependent child
  • your carer who has lived with you in the home for the past two years and is eligible for an income support payment
  • a close relation, such as a sister, brother, parent, child or grandchild who has lived with you in the home for the past five years and is eligible for an income support payment.

The net market value of your home is the value of the house less any outstanding mortgages on the home.

If the net market value of your home is more than $166,707.20, it will not all be included in assessing your assets. Instead, a capped amount of $166,707.20 will be included.

Assets

Financial assets include:

  • bank, building society and credit union accounts
  • cash
  • term deposits
  • cheque deposits
  • friendly society bonds
  • managed investments
  • listed shares and securities
  • loans and debentures
  • shares in unlisted public companies
  • gold and other bullion
  • gifted assets - if you have gifted amounts above $10,000 in the last year or $30,000 in the last five years, include the amount above these limits as a financial asset.

For more guidance on what types of financial assets to include, see the Income and Assets Checklist

Other assets include:

  • household contents and personal effects (these are typically valued at $10,000)
  • foreign assets including investments, business interests and real estate
  • investment property
  • special collections such as stamps, art works or antiques
  • superannuation balances
  • private trusts, family trusts and private companies
  • refundable accommodation deposits.

For more guidance on what types of other assets to include, see the Income and Assets Checklist.

Debts

A debt is any loan, mortgage, charge or encumbrance held over an asset which has been included as a financial asset or other asset.

  • do not include the value of the mortgage over the family home (if there is one)
  • do not include credit card debt or personal loans

For more guidance on what types of debt to include, see the Income and Assets Checklist.

About this estimate

Disclaimer

The Fee Estimator and tools on this website are provided as a guide for your general information only. The Fee Estimator will give you an estimate of fees and charges for aged care, based on the information you enter at the time. The actual amount of the fees and charges payable will depend on your personal situation, the time you enter care, the information you provide to the relevant Australian Government Departments and your personal and financial information at the time of the assessment.

All reasonable care has been taken in preparing and designing the Fee Estimator and tools; however, the Commonwealth provides no warranty and makes no representation that the information provided by the Fee Estimator and tools is appropriate for your particular circumstances or indicates you should follow a particular course of action. You should consider obtaining independent legal, financial, taxation or other advice to check how the website information relates to your particular circumstances.

The Commonwealth is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly on or through this website, by use of the Fee Estimator