Aged Care

Residential aged care continues to face significant financial and capacity pressures, creating challenges for both providers and the older Australians and families trying to find appropriate care. Occupancy remains high, places can be difficult to secure, and people with complex care needs or lower financial means may face additional challenges finding suitable accommodation. Recent government reporting continues to track wait times for both residential aged care and Support at Home services. At the same time,

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If the time has come to consider moving into residential aged care, you and your family may be faced with some significant financial decisions.If you have a Self-Managed Super Fund (SMSF), there can be an additional layer of complexity. Your SMSF may hold a significant portion of your wealth, so understanding how it fits into your aged care and retirement planning can be important.The good news is that planning ahead and getting the right financial

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Moving into residential aged care can involve many decisions, from finding the right care service to understanding fees, accommodation payments, investments and estate planning. Having an adviser involved can help you and your family understand the options available and work through the financial decisions that come with aged care. Setting Your Priorities As your adviser we can: Help you identify what is important and achieve your goals and objectives. Help you and your family understand

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The Maximum Permissible Interest Rate (MPIR) will increase to 8.51% p.a. from 1 October 2026. The MPIR is increasing from 8.43% p.a. for the July to September 2026 quarter to 8.51% p.a. for the period 1 October to 31 December 2026. The MPIR is used when calculating certain residential aged care accommodation payments and contributions. The Australian Government publishes the current and previous rates through the Department of Health, Disability and Ageing. Who will the

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Effective from 20 September 2026The Australian Government has announced an increase to the deeming rates used to assess income from financial investments.From 20 September 2026 to 19 March 2027, the deeming rates will increase by 0.5 percentage points.New Deeming Rates Person / Couple Asset Threshold Deeming Rate Single person First $66,800 1.75% Above $66,800 3.75% Couple (combined) First $110,600 1.75% Above $110,600 3.75% What Could This Mean for You?The increase may affect the assessment of

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When the time comes for you or a loved one to move into residential aged care, choosing the right service is an important decision. Availability and urgency can sometimes limit your choices and the pressure can be overwhelming, so having a simple process can help. Think about the decision much like choosing a home and consider these four key steps: 1. Choose the Location Consider where you would like to live and what is important

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Choosing where to live in retirement can be a big decision. Options may include: Own home Rental Granny flat Retirement village Land-lease retirement community Residential aged care Before deciding, consider the costs, security of your capital, access to care, government assistance and what happens to your money when you leave. When are the options available? Residential aged care is designed for people who need ongoing care and support and requires an assessment through My Aged

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Moving into residential aged care can be a big change, and one of the first things families often worry about is the cost of accommodation. Seeing a large lump sum attached to a room can feel overwhelming. This is where a Refundable Accommodation Deposit (RAD) comes in. A RAD is a lump sum paid towards your accommodation. Depending on your circumstances, you may instead choose to pay a Daily Accommodation Payment (DAP) or use a

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