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Name of determination
1 Name of determination
This determination is the Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014.
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Commonwealth legislation
This Act has been repealed and is no longer in force. It is retained for historical reference.
This instrument sets the asset-threshold formula that decides if an older Australian is a "supported resident" in subsidised nursing homes. It combines a long‑term daily-care multiple with a pension‑linked base amount (rounded to the nearest $500) to produce the cutoff: being below it triggers higher government subsidy and lower fees for the resident.
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Direct links to the current provisions in Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014.
This determination is the Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014.
This determination is made under paragraph 44‑5B(1)(c) of the Aged Care (Transitional Provisions) Act 1997.
In this determination:
Transitional Provisions Act means the Aged Care (Transitional Provisions) Act 1997.
For the purposes of paragraph 44‑5B(1)(c) of the Transitional Provisions Act, the amount in relation to a day for a person is the amount worked out using the following formula: Start formula open bracket Applicable amount times 2080 close bracket plus Lower asset threshold end formula where:
applicable amount means the applicable amount for the day for the person within the meaning of section 82 of the Aged Care (Transitional Provisions) (Subsidy and Other Measures) Determination 2014.
lower asset threshold means the amount worked out by rounding to the nearest $500 (rounding up in the case of $250 or more) the amount equal to 2.5 times the basic age pension amount (within the meaning of the Transitional Provisions Act) at the time that applies under section 43 of the Aged Care (Transitional Provisions) Principles 2014 in relation to the person.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This determination is the Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014.
This determination is made under paragraph 44‑5B(1)(c) of the Aged Care (Transitional Provisions) Act 1997.
In this determination:
Transitional Provisions Act means the Aged Care (Transitional Provisions) Act 1997.
For the purposes of paragraph 44‑5B(1)(c) of the Transitional Provisions Act, the amount in relation to a day for a person is the amount worked out using the following formula: where:
applicable amount means the applicable amount for the day for the person within the meaning of section 82 of the Aged Care (Transitional Provisions) (Subsidy and Other Measures) Determination 2014.
lower asset threshold means the amount worked out by rounding to the nearest $500 (rounding up in the case of $250 or more) the amount equal to 2.5 times the basic age pension amount (within the meaning of the Transitional Provisions Act) at the time that applies under section 43 of the Aged Care (Transitional Provisions) Principles 2014 in relation to the person.