Federal Register of Legislation - Australian Government

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Determinations/Aged Care as made
This determination sets out a method for working out the maximum asset threshold below which the value of a person’s assets must fall in order for them to be a supported resident.
Administered by: Health
Registered 28 Jun 2014
Tabling HistoryDate
Tabled Senate07-Jul-2014
Tabled HR08-Jul-2014
Table of contents.

 

Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014

I, Finn Pratt PSM, Secretary of the Department of Social Services, make the following determination.

Dated   27 June 2014


Finn Pratt PSM

Secretary of the Department of Social Services

 

  

  

  


Contents

1............ Name of determination.................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Definitions..................................................................................................................... 1

5............ Amount of asset threshold for supported residents....................................................... 1

6............ Viability supplement—eligible residential care services................................................ 1

 


1  Name of determination

                   This determination is the Aged Care (Transitional Provisions) (Residential Care Subsidy) Determination 2014.

2  Commencement

                   This determination commences on 1 July 2014.

3  Authority

                   This determination is made under paragraph 44‑5B(1)(c) and subsection 44‑29(2) of the Aged Care (Transitional Provisions) Act 1997.

4  Definitions

                   In this determination:

Transitional Provisions Act means the Aged Care (Transitional Provisions) Act 1997.

5  Amount of asset threshold for supported residents

             (1)  This section applies in relation to a person who is being provided with residential care (other than as respite care) through a residential care service on a day and is a post‑2008 reform resident.

Note:          Post‑2008 reform resident is defined in clause 1 of Schedule 1 to the Transitional Provisions Act.

             (2)  For paragraph 44‑5B(1)(c) of the Transitional Provisions Act, the amount for the person in relation to the day is the amount worked out in accordance with the following formula:

where:

applicable maximum amount means the maximum amount of the accommodation supplement that applies for the day for the person under section 15 of the Aged Care (Transitional Provisions) (Subsidy and Other Measures) Determination 2014.

lower asset threshold, at a time, is the amount obtained by rounding to the nearest $500 (rounding $250 upwards) the amount equal to 2.5 times the basic age pension amount at that time.

Note:          Basic age pension amount is defined in clause 1 of Schedule 1 to the Transitional Provisions Act.

6  Viability supplement—eligible residential care services

                   For subsection 44‑29(2) of the Transitional Provisions Act, this section applies in respect of the following kinds of residential care service:

                     (a)  a 1997 scheme service (within the meaning of the Subsidy Principles 2014);

                     (b)  a 2001 scheme service (within the meaning of those principles);

                     (c)  a 2005 scheme service (within the meaning of those principles).

Note:          See also section 55 of the Aged Care (Transitional Provisions) Principles 2014.