Q: Are there differences in Aged Care facilities?

Most older Australians prefer to stay in their own homes, so there are a number of programs available to help out with daily living activities that may have become harder for you to manage on your own. This is called ‘community care’.

If you can no longer live at home because of ageing, illness or disability, there are publicly-funded places in aged care homes that you may be able to access. This is called ‘residential aged care’.

There are two types of residential aged care in Australia – high-level and low-level care. High-level care provides nursing care when required, meals, laundry, cleaning and personal care, while low-level care gives you assistance with meals, laundry and personal care, except when required.

Q: How much does it cost?

The government partly funds the cost of Aged Care, with the resident paying fees depending on their assets and income, and any fees levied by the facility. All Aged Care facilities charge a basic daily fee, which is regulated by the government.

Q: Do I have to sell my home?

“Do we need to sell the family home?” is usually the first question asked by homeowners considering entry into an Aged Care facility.  While it is one option, it is not the only option.

You might consider renting the family home, while structuring your Aged Care strategy to ensure that the rental income is exempt from income tests. This strategy would allow you to retain the family home, and generate cash flow.

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