Aged Care

With busy schedules, work commitments and families often living further apart, it can be difficult to stay closely connected with the people we care about.When we finally come together for a family gathering, Christmas celebration or special occasion, we sometimes notice that an older parent, relative or loved one has changed more than we realised.Perhaps the house isn't as tidy as it used to be, appointments have been missed or everyday tasks seem to be

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Moving into residential aged care can be a significant life change, and understanding the associated costs is often one of the biggest concerns for individuals and their families.The Australian Government provides financial assistance to help make residential aged care more affordable. However, the level of support available depends on a person's financial circumstances and whether they qualify for what is known as low-means status.Understanding how this assessment works, what it means for your accommodation costs

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There is some welcome news for people entering residential aged care, along with their families and financial advisers.A legislative amendment has now passed through Parliament and received Royal Assent, restoring flexibility around when residents can pay a Refundable Accommodation Deposit (RAD) or Refundable Accommodation Contribution (RAC).The change addresses an issue introduced under the aged care reforms on 1 November 2025, which required residents to wait until Services Australia completed their means-test assessment or issued a

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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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