When you move into residential aged care you may be required to pay an accommodation contribution or accommodation payment. These accommodation costs may be funded from the sale proceeds of the family home. If you choose to keep your family home, other funding strategies may be considered.
Minimum Pension Standards and transfer balance account
If an income stream does not meet the SIS pension and annuity standards it is taken to have ceased at the beginning of that financial year for taxation purposes. This will trigger a transfer balance account debit for the member which occurs at a later time in that financial year.
Aged Care - What you need to know - Step 1: Approval
In this article we will look at getting started on the track to accessing government subsidised aged care services. You will understand the assessments required to determine whether you, or your loved one, is eligible to receive aged care support.