Aged Care Facts and Figures
Aged Care Facts & Figures
Residential care - entry from 1 July 2014
Basic daily care fee
Means-tested care fee (MTF)
MTF Formula
| Resident | Basic Daily Fee (per day) | Annual Amount |
|---|---|---|
| Permanent | $63.57 | $23,205.05 |
| Respite | $63.57 | $23,205.05 |
| [(Income amount + Asset amount) / 364] – $69.49 |
Income amount is calculated as:
| (Annual assessable income* – Income threshold) x 50% |
*Centrelink/DVA payments (less minimum pension supplement, energy supplement and any adjustments) plus private income assessed using Centrelink/DVA income test rules (rent on former home may be included if entered care from 1 Jan 2016).
| Single | Couple (each) | |
|---|---|---|
| Income threshold | $33,735.00 pa | $33,059.00 pa |
| Deduct if applicable | Single or illness- separated (pa) | Couple (each) |
|---|---|---|
| Minimum pension supplement | $1,164.80 | $878.80 |
| Energy supplement | $366.60 | $275.60 |
| Total deduction pa | $1,531.40 | $1,154.40 |
Asset amount is calculated as:
| Assessable assets* | Percentage assessable | Asset cumulative calculation |
|---|---|---|
| First $61,500 | 0% | Nil |
| $61,500 to $206,039.20 | 17.5% | Nil + 17.5% for each $1 over $61,500 |
| $206,039.20 to $495,117.60 | 1% | $25,294.36 plus 1% for each $1 over $206,039.20 |
| Over $495,117.60 | 2% | $28,185.14 plus 2% for each $1 over $495,117.60 |
*Assessable assets include capped value of home (unless protected person still lives there) plus amounts paid as RAD / bonds.
Capped home asset value is $206,039.20
(Capped value is per person if member of a couple and not exempt)
Maximum MTF
| Daily Cap | AN-ACC cost of care (up to $422.84) |
|---|---|
| Annual Cap (anniversary year) | $34,174.16 |
| Lifetime Cap | $82,018.15* |
*Includes income-tested home care fees on post 1 July 2014 packages.
MTF reduces to nil for rest of year once annual cap reached, or permanently once lifetime cap reached. No MTF for ex-prisoners of war/Victoria Cross holders
Accommodation Payments
Low-means resident
Classified as low-means resident if Means-tested amount (MTA) is less than MAS of $69.49. Assessed at date of entry into care service.
| MTA = (Income amount + Asset amount) / 364 |
Low-means residents may pay a daily accommodation contribution (DAC). Can convert to lump sum (RAC) using MPIR.
DAC = MTA*
*Capped at accommodation supplement payable to residential service:
| Service Provider | Less than 40% of residents low-means | 40% or more of residents low-means |
|---|---|---|
| New or significantly refurbished | $52.12 per day | $69.49 per day |
| Standard service | $33.98 per day | $45.31 per day |
Interest (MPIR) on unpaid RAD
Rate fixed at date of entry to care service and applies to any unpaid RAD.
| Residents entering care service | Rate pa |
|---|---|
| 1 October 2024 - 31 December 2024 | 8.38% |
| 1 July 2024 - 30 September 2024 | 8.36% |
| 1 April 2024 - 30 June 2024 | 8.34% |
| 1 January 2024 - 31 March 2024 | 8.38% |
Financial Hardship Threshold
Refer to Services Australia form SA462 for other conditions. Assessable assets, excluding unrealised assets, cannot exceed:
| 1.5 times pension rate = $44,631.60 |
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Residential care - entry before 1 July 2014
Basic daily care fee
| Resident | Basic daily fee (per day) | Annual amount |
|---|---|---|
| Permanent | $63.57 | $23,203.05 |
| Respite | $63.57 | $23,203.05 |
Residents who entered care before 20 September 2009 may pay daily care fees under one of the following categories:
| Protected resident | Entered care before 20 September 2009 and part-pensioners with private income above relevant threshold or self-funded | $57.96 |
| Non-standard resident | Entered care before 20 March 2008 and paid large bonds or did not disclose financial information to Centrelink. | $72.17 |
Income-tested fee (ITF)
Maximum ITF is $100.97 per day.
An ITF is payable if assessable income exceeds thresholds:
| Resident | Single | Couple (each) |
|---|---|---|
| Standard | $1,297.50 pf | $1,271.50 pf |
| Protected | $1,079.00 pf | $1053.00 pf |
| Non-standard | $1,297.50 pf | $1,271.50 pf |
ITF formula
ITF is calculated as:
| (Fortnightly assessable income – Fortnightly income threshold) x (5/12) / 14 |
Interest (MPIR) on unpaid bond (if transfer to new facility)
| Residents entering care service | Rate |
|---|---|
| 1 October 2024 - 31 December 2024 | 8.38% |
Home care
Basic daily fee
| Home care package level | Basic daily fee | Annual amount | Max daily gov subsidy amount | Total annual budget* |
|---|---|---|---|---|
| L 1 - Basic | $11.72 | $4,277.80 | $29.01 | $14,866.45 |
| L 2 - Low | $12.40 | $4,526.00 | $51.02 | $23,148.30 |
| L 3 - Intermediate | $12.75 | $4,653.75 | $111.04 | $45,183.35 |
| L4 - High | $13.08 | $4,774.20 | $168.33 | $66,214.65 |
*Includes government subsidy and client contribution.
Income-tested fee
| Assessable income | Maximum ITF |
|---|---|
| Less than income free threshold | Nil |
| Above income free threshold but less than upper income threshold | (Assessable income – Income free threshold) x 50%* but capped at: $18.77 per day, or Annual cap $6,834.77 |
| Above upper threshold | $6,834.77 + (Assessable income – Upper income threshold) x 50%* but capped at: $37.55 per day, or Annual cap $13,669.63 |
*This calculates annual ITF. This is divided by 364 days to get daily amount, but multiply daily amount by 365 days to annualised total payable.
Income thresholds for home care ITF
| Income free threshold: | Upper income threshold: | |
|---|---|---|
| Single | $33,735.00 | $65,020.80 |
| Couple (illness-separated) | $33,059.00 | $64,344.80 |
| Couple (living together) | $26,109.20 | $49,691.20 |
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Centrelink Facts & Figures
20 September 2024 – 31 December 2024
Pensions (Australian residents)
Means-testing does not apply to blind pensioners
Pension assets test
Pension reduces by $3.00 pf for every $1,000 above full pension threshold (combined if couple).
Homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $314,000 | $695,500 |
| Couple (combined) | Up to $470,000 | $1,045,500 |
| Illness separated couple (combined) | Up to $470,000 | $1,233,000 |
Non-homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $566,000 | $947,500 |
| Couple (combined) | Up to $722,000 | $1,297,500 |
| Illness separated couple (combined) | Up to $722,000 | $1,485,000 |
* Limits may be higher if Rent Assistance is payable
Pension income test
Pension reduces 50 cents (single) and 25 cents (couple each) for every dollar over these thresholds.
| Family situation | For full pension (pf)* | For part pension (pf)^ |
|---|---|---|
| Single | Up to $212.00 | $2,500.80 |
| Couple (combined) | Up to $372.00 | $3,822.40 |
| Illness separated couple (combined) | Up to $372.00 | $4,949.60 |
* Limits may be higher if Rent Assistance is payable
Pension payment rates
For age, disability, and carer. Includes supplements. Maximum amount payable as shown = based rate + maximum pension supplement + energy supplement
| Family situation | Full pension (pf) | Full pension (pa) |
|---|---|---|
| Single^ | $1,144.40 | $29,754.40 |
| Couple (each) | $862.60 | $22,427.60 |
| Illness separated couple (each) | $1,144.40 | $29,754.40 |
Pension supplement components
| Single / Illness- separated | Couple (each) | Couple illness separated (each) |
|
|---|---|---|---|
| Maximum pension supplement* | $83.20 | $62.70 | $83.20 |
| Energy supplement | $14.10 | $10.60 | $14.10 |
| *Includes | |||
| Minimum pension supplement^ | $44.80 | $33.80 | $44.80 |
| Basic pension supplement | $28.90 | $23.80 | $28.90 |
^Pension does not reduce below minimum pension supplement unless means testing reduces payments to zero
Pension age
| Age / service pension age | |
|---|---|
| Centrelink | 67 |
| Veterans’ Affairs | 60 |
Allowances
Allowance assets test
| Family situation | Homeowner | Non- homeowner |
|---|---|---|
| Single | $314,000 | $566,000 |
| Couple (combined) | $470,000 | $722,000 |
| Illness separated couple (combined) | $470,000 | $722,000 |
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Allowance income test
Jobseeker allowance
| Family situation | For full allowance (pf)* | For part allowance (pf)^ |
|---|---|---|
| Single, no children | Up to $150 | Up to $1,337.50 |
| Single with dependent child(ren) | Up to $150 | Up to $1,425.50 |
| Single, principal carer with dependent child(ren)# | Up to $150 | Up to $2,053.25 |
| Single, over age 60 after 9 months | Up to $150 | Up to $1,436.50 |
| Partnered (each) | Up to $150 | Up to $1,232.84 |
*Limits may be higher if Pharmaceutical Allowance or Rent Assistance is payable
Reductions based on fortnightly assessable income:
| Single, no children | Income $150 to $256 reduces allowance by 50 cents in the dollar Above $256 reduces allowance by 60 cents in the dollar |
| Single, over age 55 after 9 months |
|
| Single, dependent child/ren |
|
| Single, principal carer with dependent child/ren | Income above $150 reduces allowance by 40 cents in the dollar |
| Partnered (each) | Income $150 to $256 reduces allowance by 50 cents in the dollar Above $256 reduces allowance by 60 cents in the dollar. Partner’s income above $1,368 reduces allowance by 60 cents in the dollar |
Allowance payment rates
JobSeeker, Special benefit
| Family situation | Rate (pf) | Energy supplement |
|---|---|---|
| Single | $778.00 | $8.80 |
| Single, dependent child/ren | $833.20 | $9.50 |
| Single, over age 55 after 9 months | $833.20 | $9.50 |
| Partnered (each) | $712.30 | $7.90 |
Pharmaceutical allowance
May be paid to some allowance recipients
| Family situation | Rate (pf) |
|---|---|
| Single | $6.80 |
| Couple (each) | $3.40 |
Deeming rates & thresholds
Income assessment for financial investments
| Family situation | Value of financial investments | Deeming rate |
|---|---|---|
| Single | Up to $62,600 Above $62,600 | 0.25% 2.25% |
| Pensioner couple | Up to $103,800 Above $103,800 | 0.25% 2.25% |
| Non- pensioner couple (each) | Up to $51,900 Above $51,900 | 0.25% 2.25% |
Financial assets over the limit will reduce payments under the income test (payments may be reduced under the asset test):
| Family situation | Financial assets limit for full pension | Financial assets limit for full allowance |
|---|---|---|
| Single | Up to $300,622 | $228,978 |
| Couple (combined) | Up to $522,133 | $265,600 |
Other benefits
Rent assistance - for allowances & pensions
| Family situation | Maximum payment (pf) | No payment if rent is less than: | For maximum payment rent must exceed: |
|---|---|---|---|
| Single, no children | $211.20 | $149.00 | $430.60 |
| Single, no children, sharer | $140.80 | $149.00 | $336.74 |
| Couple, no children | $199.00 | $241.40 | $506.74 |
| Illness separated | $211.20 | $149.00 | $430.60 |
| Couple, temporarily separated, no children | $199.00 | $149.00 | $414.34 |
Work bonus
| Amount | |
|---|---|
| Accruing unused work bonus (if over pension age) | $300 pf |
| Maximum accumulation in work bonus bank | $7,800 |
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Carer’s allowance
| Subject to a family income test of $250,000 | $153.50 |
Funeral bond
| Exempt funeral bond investment threshold | $15,500 |
Retirement village / Granny flat right
| Homeowner if entry contribution paid is at least (entry from 1 July 2024) | $252,000 |
Special disability trust
| Amounts | |
|---|---|
| Exempt asset threshold | $813,250 |
| Gifting exemption limit (non-indexed) | $500,000 |
| Annual discretionary spending limit | $14,500 |
Health care cards
Pensioner concession card
Automatically issued to:
- All Centrelink pensioners and DVA service pensioners, and war widows who receive an income support supplement.
- JobSeeker Payment or Youth Allowance if single, caring for a dependent child and looking for work, and Parenting Payment (single)
- May be issued if aged over 60 and for more than 9 months have received: JobSeeker Payment, Parenting Payment (partnered), and Special Benefit
- Pensioners who lost their pension entitlement on 1 January 2017 because of the measure to rebalance the assets test had their PCC reinstated from 9 October 2017. The PCC was automatically reissued with an ongoing income and assets test exemption. Other eligibility requirements, such as portability conditions, also need to be met.
Commonwealth seniors health card
Issued to self-funded retirees over age pension age who meet income test:
| Family situation | Annual income* |
|---|---|
| Single | $99,025 |
| Couple (combined) | $158,440 |
| Illness separated couple (combined) | $198,050 |
* Add $639.60 per year for each dependent child
Assessable income includes:
- Taxable income
Fringe benefits
Foreign income
Net investment loss and reportable superannuation contributions
Deemed income from account-based pensions.
Low income health care card
| Family situation | Weekly income (to retain) | Average weekly income* (to qualify) |
|---|---|---|
| Single | $978.75 | $783.00 |
| Couple combined, no children | $1,673.75 | $1,339.00 |
| Single with one dependent child | $1,673.75 | $1,339.00 |
| For each additional child | $42.50 | $34.00 |
* The income test applies to average weekly earnings in the eight weeks immediately before applying for the card. Income is determined using social security rules. No assets test applies
Home equity access scheme (HEAS)
| Maximum fortnightly instalment* | 150% of maximum pension rate minus pension payment received |
*Limited lump sum payments are also available but will reduce the instalment amount
| Family situation | Maximum fortnightly instalment* | Annual amount* |
|---|---|---|
| Single | $1,716.60 | $44,631.60 |
| Couple (combined) | $1,293.90 | $33,641.40 |
| Illness separated couple (combined) | $1,716.60 | $44,631.60 |
*Maximum amount payable to a self-funded retiree
| Interest rate | 3.95% pa |
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DVA Facts & Figures
20 September 2024 – 31 December 2024
Service pension
Assets test
Homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $314,000 | $695,500 |
| Couple (combined) | Up to $470,000 | $1,045,500 |
| Illness separated couple (combined) | Up to $470,000 | $1,233,000 |
Non-homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $566,000 | $947,500 |
| Couple (combined) | Up to $722,000 | $1,297,500 |
| Illness separated couple (combined) | Up to $722,000 | $1,485,000 |
* Limits may be higher if Rent Assistance is payable
Pension Income test
Pension reduces 50 cents (single) and 25 cents (couple each) for every dollar over these thresholds
| Family situation | For full pension (pf)* | For part pension (pf)* |
|---|---|---|
| Single | Up to $212.00 | $2,500.80 |
| Couple (combined) | Up to $372.00 | $3,822.40 |
| Illness separated couple (combined) | Up to $372.00 | $4,949.60 |
* Pension reduces 50 cents (single) and 25 cents (couple each) for every dollar over these thresholds
^ The figures may be higher if Rent Assistance is payable
Service pension payment rates
| Family situation | Rate (pf) | Rate (pa) |
|---|---|---|
| Single | $1,144.40 | $29,754.40 |
| Couple (each) | $862.60 | $22,427.60 |
| Illness separated couple (combined) | $1,144.40 | $29,754.40 |
DVA supplement components
Pension and energy supplements included in service pension
| Supplement | Single | Couple (each) | Couple illness separated (each) |
|---|---|---|---|
| Maximum pension supplement* | $83.20 | $62.70 | $83.20 |
| Energy supplement | $14.10 | $10.60 | $14.10 |
| *Includes: | |||
| Minimum pension supplement^ | $44.80 | $33.80 | $44.80 |
| Basic pension supplement | $28.90 | $23.80 | $28.90 |
^Pension does not reduce below minimum pension supplement unless means testing reduces payments to zero
War widow(er)s pension
Payment rates
| Rate (pf) | Rate (pa) | |
|---|---|---|
| War widow(er)s pension* | $1,165.30 | $30,297.80 |
| Income support supplement (ISS)^ | $346.20 | $9,001.20 |
| *Paid to eligible widow(er)s of veterans. It is not means-tested. Rate includes supplements* ^ISS is paid to war widow(er)s who meet means testing. Rate includes pension supplement of $44.80 pf |
||
| *War widow(er)s GST supplement | $38.30 pf | |
| *War widow(er)s energy supplement | $14.20 pf | |
ISS asset test
Pension reduces by $3.00 pf for every $1,000 above full ISS threshold (combined if couple).
Homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $575,500 | $691,000 |
| Couple (combined) | Up to $807,500 | $1,038,000 |
| Illness-separated couple (combined) | Up to $993,000 | $1,224,000 |
Non-Homeowner
| Family situation | For full pension* | For part pension* |
|---|---|---|
| Single | Up to $827,500 | $943,000 |
| Couple (combined) | Up to $1,059,500 | $1,290,000 |
| Illness separated couple (combined) | Up to $1,245,000 | $1,476,000 |
*Limits may be higher if Rent Assistance is payable
ISS income test
| Family situation | For full ISS | For part ISS |
|---|---|---|
| Single | Up to $1,780.20 | Up to $2,472.60 |
| Couple (combined) | Up to $2,395.20 | Up to $3,780.00 |
| Illness separated couple (combined) | Up to $3,508.40 | Up to $4,893.20 |
Non-taxable payments made under the Veterans’ Entitlement Act 1986 to compensate veterans for conditions caused / aggravated by service before 1 July 2004.
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Disability compensation payments
| Disability pension | Rate (pf)* | ||
|---|---|---|---|
| Special rate (TPI, blind or TTI) | $1,805.30 | ||
| Intermediate rate | $1,196.80 | ||
| Extreme disablement adjustment (EDA) | $974.20 | ||
| General rate (pf)* | |||
| 100% | $626.70 | 50% | $317.20 |
| 95% | $595.75 | 45% | $286.25 |
| 90% | $564.80 | 40% | $255.30 |
| 85% | $533.85 | 35% | $224.35 |
| 80% | $502.90 | 30% | $193.40 |
| 75% | $471.95 | 25% | $162.45 |
| 70% | $441.00 | 20% | $131.50 |
| 65% | $410.05 | 15% | $100.55 |
| 60% | $379.10 | 10% | $69.60 |
| 55% | $348.15 | ||
*Rate includes energy supplement at various rates Disclaimer: The information contained in this publication is based on the understanding Aged Care Steps Pty Ltd ABN 42 156 656 843 AFSL 486723 has of the relevant Australian legislation as at the date shown in this publication. While every care has been taken, Aged Care Steps Pty Limited makes no representations as to the accuracy or completeness of the contents. The information contained in this publication is of a general nature only and is intended for use by financial advisers and other licensed professionals only. It must not be handed to clients for their keeping nor can any copies of sections of this publication be given to clients. We recommended that your client be referred to their professional tax adviser or legal adviser prior to implementing any recommendations that you may make based on the information contained in this publication.
Gold Card
No means-test applies after age 70. Under age 70, eligibility is based upon service-injuries, low income, or a combination of both.
Asset test
| Family situation | Cut-off limit: | |
| Homeowner | Non-homeowner | |
| Single | $366,500 | $618,500 |
| Couple (combined) | $560,000 | $812,000 |
Income test
| Family situation | Cut-off limit (pf): |
|---|---|
| Single | $526.00 |
| Couple (combined) | $911.20 |
Deeming rates and thresholds
Income assessment for financial investments
| Family situation | Value of financial investments | Deeming rate |
|---|---|---|
| Single | Up to $62,600 Above $62,600 | 0.25% 2.25% |
| Pensioner couple | Up to $103,800 Above $103,800 | 0.25% 2.25% |
| Non-pensioner couple (each) | Up to $51,900 Above $51,900 | 0.25% 2.25% |
Financial assets over the limit will reduce payments under the income test (payments may be reduced under the asset test):
| Family situation | Financial assets limit for full pension | Financial assets limit for full allowance |
|---|---|---|
| Single | Up to $300,622 | $228,978 |
| Couple (combined) | Up to $522,133 | $265,600 |
Funeral bond
| Exempt funeral bond investment threshold | $15,500 |
Retirement village / granny flat extra allowable amount
| Homeowner if entry contribution paid is at least (entry from 1 July 2024) | $252,000 |
Special disability trust
| Amounts | |
|---|---|
| Exempt asset threshold | $813,250 |
| Gifting exemption limit (non-indexed) | $500,000 |
| Annual discretionary spending limit | $14,500 |
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