The Federal Government subsidies the cost of residential aged care, but residents also pay fees and charges, depending on their income and assets. To access subsidised care, you will need to have an income and assets assessment done by Centrelink.
We strongly encourage you to obtain independent professional advice on the options most advantageous to your financial wellbeing.
The Income and asset assessment can be accessed online at humanservices.gov.au/forms and selecting Aged Care Calculation of your cost of care. You can get an estimate of the amount you may be asked to pay towards your residential aged care by going to www.myagedcare.gov.au and searching for ‘fee estimator’.