Costs & Fees
Everyone’s situation is different and therefore your fees and costs will be determined by your circumstances.
You may be required to pay an accommodation payment, in addition to the basic daily care fees and means tested care fee (if applicable).
Your personal financial situation will determine the level of accommodation payment you may need to pay. People with limited assets and income may have their accommodation payment fully or partially subsidised by the Government. A combined asset and income assessment form (SA457) should be completed and sent to Centrelink or the Department of Veteran Affairs before entering permanent care to ensure the correct accommodation payment and or other associated eligible fees is determined for you by the Department before entering the aged care home.
The accommodation payments (if applicable to you) are payable as either Refundable Accommodation Deposits (RAD) or Daily Accommodation Payments (DAP) or a combination of both. Accommodation payments are capped at the maximum RAD or DAP equivalent for the available room as shown on our website, see below. Or alternatively you can also access the advertised rates on the My Aged Care website.
Daily Care Fees:
All residents pay a Basic Daily Care Fee which goes towards care needs and living expenses such as meals, cleaning and laundry.
From 20 September 2019, the maximum basic daily fee for new residents (including respite residents) is up to $51.63 per day. This rate increases on 20 March and September each year respectively in line with changes to the Age Pension.
For all new residents from 01 Jan 2020 - 30 March 2020 the Maximum permissible interest rate (MPIR) that may be charged is 4.91% pa.
From 01 Jan 2020 – 31 March 2020 the Maximum permissible interest rate (MPIR) that may be charged on outstanding amount of daily payment is 4.91% pa.
You may pay different rates depending on your situation, including when you entered an aged care home.
When you enter an aged care home you will receive a letter from the Department of Social Services confirming your maximum basic daily fee, eligible accommodation costs/subsidy contribution and or your eligible means test care fee if it applies to your current financial situation.
Refundable Accommodation Deposit (RAD):
A refundable accommodation deposit is a lump sum paid or payable by a resident for entry to residential care.
The balance of the refundable accommodation deposit (after any agreed deductions have been drawn down) will be refunded to the resident or their estate on termination of the agreement for residential services.
The maximum RAD for our single room is $350,000 and double room is $330,000.
Daily Accommodation Payment (DAP):
A daily accommodation payment (DAP) is an amount calculated by converting the refundable accommodation deposit into a daily charge using the maximum permissible interest rate (MPIR) applicable at the time of admission.
Under the previous accommodation bond rules, this was known as a periodic payment. The method of calculating the daily amount has not changed under the new rules.
The maximum DAP for our single room for example is $47.08 per day based on the MPIR as at 1/01/2020. The maximum DAP for one of our double rooms for example is $44.39 per day based on the MPIR as at 1/01/2020