The number of Australians over aged 65 is expected to increase significantly over the next 50 years. With this growth in the aged population, more people will require support services including entering a residential aged care facility. The transition to living in aged care is an emotional and complex time for a family and to relieve the pressure associated such decisions, we offer comprehensive assistance in relation to the initial and subsequent financial planning aspects. Our services also include acting as correspondence nominees for the department of aged care, Centrelink and the residential aged care providers on our client’s behalf. We complete all applications for Centrelink and the department of aged care and our strategies will ensure the best financial outcome for our clients each time.

Aged care is a highly specialised and complex advice area that requires a solid understanding of the different fees that may be payable; issues that need to be considered when entering the aged care facility and the way the aged care rules interact with the broader tax and social security system.

Australia’s aged care system is designed to support the elderly, either in their own home or an aged care facility. The main types of government subsidised aged care are:

  • Home Care – which provides a range of packages or services allowing a person to continue living in their home. Support services may include cleaning, preparation of meals and transport for shopping or appointments.
  • Residential Aged Care – Which provides accommodation and care depending on the person’s needs. Care can range from personal care, such as help with showering and dressing, together with occasional nursing care to continuous nursing care for those with a greater degree of frailty.

Some residential care facilities provide a higher level of accommodation than standard facilities. These are called extra service facilities and provide additional hotel type services or lifestyle extras such as higher standards of accommodation and increased food choices. The quality and range of extra services available varies between providers and is reflected in the extra services fees payable.