Skip to main content RSS Info Close Search Facebook Twitter
Location
Category
Aged Care Homes
Providers / Vacancies
Service Providers
Feedback

Aged Care Amendment (Residential Care) Bill

The Senate has passed amendments to the Aged Care Amendment (Residential Care)
Bill 2006.The changes will bring into line aged care and pension requirements in relation to income streams from 20 September 2007.

They will ensure that prospective residents who purchased complying income streams after 20 September 2004 on the understanding that 100% of the asset value of those income streams would be exempt from the aged care asset test, are not disadvantaged by the alignment of the aged care assets test with the pension assets test.

As the aged care assets test only applies on entry to an aged care home or moving to another home, existing residents will not be affected by these changes while they remain in the same aged care home.

Share this article

Read next

Subscribe

Subscribe to our Talking Aged Care newsletter to get our latest articles, delivered straight to your inbox
Sponsored content
  1. Who says your age should limit your dreams?
  2. Data from a recently released report highlights a concerning...
  3. With an ageing and growing population, data from the...
  4. Approximately 411,000 Australians are estimated to be living...
  5. How could you benefit from attending university as an older...
  6. Fueling your body with healthy foods as you age could help...
Sponsored content

Recent articles

  1. Recent data indicates changes in the current COVID-19...
  2. One aged care provider is launching a mini-series of free...
  3. Aged care residents and students in this Queensland town...
  4. Feeling overwhelmed this festive season? Free helplines are...
  5. Are you experiencing unexplained symptoms such as tiredness?...
  6. Do you know how to reduce your risk of being scammed?
  7. Who says your age should limit your dreams?
  8. How did residents celebrate their aged care precinct’s...
  9. Why is the passing of the Aged Care Act Bill so important for...
  10. What is the expected impact of the changes to the upcoming...
  11. Recently published retirees prove that it’s never too...
  12. In the last decade, people aged 65 years or older were...