Commonwealth legislation

Aged Care (Residential care subsidy - amount of maximum asset threshold) Determination 2008

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This Determination sets the formula for the maximum asset threshold used to decide whether the government contributes to a resident’s accommodation in subsidised aged care. It affects older Australians entering government‑subsidised residential care and providers assessing accommodation supplements. The threshold equals the maximum daily accommodation supplement rate × 2,080 plus the lower asset threshold (2.5× the basic Age Pension), determining who receives government help for accommodation costs.

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Aged Care (Residential care subsidy - amount of maximum asset threshold) Determination 2008

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Aged Care (Residential care subsidy — amount of maximum asset threshold) Determination 20081

Aged Care Act 1997

I, SARAH JANE HALTON, Secretary of the Department of Health and Ageing, make this Determination under paragraph 44‑5B (1) (c) of the Aged Care Act 1997.

Dated 17 March 2008

S J HALTON

Secretary of the Department of Health and Ageing

1 Name of Determination

This Determination is the Aged Care (Residential care subsidy — amount of maximum asset threshold) Determination 2008.

2 Commencement

This Determination commences on 20 March 2008.

3 Definitions

In this Determination:

Act means the Aged Care Act 1997.

lower asset threshold, at a time, is the amount obtained by rounding to the nearest $500.00 (rounding $250.00 upwards) an amount equal to 2.5 times the basic age pension amount at the time.

maximum rate of accommodation supplement means the amount mentioned in paragraph (a) of Step 1 in section 4 of the Aged Care (Residential care subsidy — amount of accommodation supplement) Determination 2008.

Note The expression ‘basic age pension amount’ used in this Determination is defined in the Aged Care Act 1997.

4 Method to work out amount for para 44‑5B (1) (c) of the Act

Follow these steps to work out the amount for paragraph 44‑5B (1) (c) of the Act:

Step 1	Multiply the maximum rate of accommodation supplement by 2080.
Step 2	Add the amount from Step 1 to the lower asset threshold.

Note

Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Aged Care (Residential care subsidy - amount of maximum asset threshold) Determination 2008