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Fees and Payments Principles 2014 (No. 2)
In force
Administered by
Department of Health and Aged Care
This item is authorised by the following title:
Aged Care Act 1997
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F2022C00939 (C05)
12 August 2022
-
06 September 2022
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Part 1—Preliminary
1 Name of principles
3 Authority
4 Definitions
5 Eligible flexible care services
6 Maximum permissible interest rate
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Part 2—Resident fees
7 Purpose of this Part
8 Additional amount for residential care service in remote area
9 Additional amount may be agreed by care recipient in unfunded place
10 Booking fee for respite care
11 Refund of overpaid resident fees
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Part 3—Home care fees
12 Purpose of this Part
13 Refund of overpaid home care fees
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Part 4—Accommodation payments and accommodation contributions
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Division 1—Accommodation agreements
14 Purpose of this Division
15 Information to be given before person enters residential care service or eligible flexible care service
16 Extension of time for entering into accommodation agreement
17 Content of accommodation agreements
Division 2—Rules about charging accommodation payments
18 Purpose of this Division
19 Approved provider must publish information about maximum accommodation payment amount etc.
20 Equivalence between provider’s refundable accommodation deposit amount and daily accommodation payment amount—general
21 Approved provider must not charge more than provider’s published maximum accommodation payment amount
22 Equivalence between provider’s refundable accommodation deposit amount and daily accommodation payment amount—for a particular person
Division 3—Approval of higher maximum accommodation payment amount
23 Purpose of this Division
24 Interpretation
25 Applications for approval to charge higher maximum accommodation payment amount
26 Decision by Pricing Authority
27 Notification of Pricing Authority’s decision
28 Duration of approval
29 Indexation of Pricing Authority approved amount
Division 4—Rules about charging accommodation contributions
30 Purpose of this Division
31 Equivalence between care recipient’s daily accommodation contribution amount and refundable accommodation contribution amount
32 Additional daily accommodation contribution amount payable if part of accommodation contribution paid by refundable accommodation contribution
Division 5—Rules about daily payments
33 Purpose of this Division
34 Frequency of daily payments
Division 6—Rules about refundable deposits
35 Purpose of this Division
36 Choice to pay refundable deposit
Division 7—Financial hardship
37 Purpose of this Division
38 Matters to which Secretary must have regard in deciding whether to make financial hardship determination
39 Meaning of essential expenses
40 Circumstances in which Secretary may revoke financial hardship determination
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Part 5—Prudential Standards
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Division 1—General
41 Purpose of this Part
42 Application of this Part
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Division 2—Liquidity Standard
43 Requirement for sufficient liquidity
44 Requirement to implement, maintain and comply with liquidity management strategy
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Division 3—Records Standard
45 Refundable deposit register
46 Information about refundable deposits
47 Information about accommodation bonds
48 Information about entry contributions
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Division 4—Governance Standard
49 Requirement for governance system
50 Requirement for investment management strategy
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Division 5—Disclosure Standard
51 Annual prudential compliance statement
52 Information about refundable deposits that must be included in annual prudential compliance statement
53 Information about accommodation bonds that must be included in annual prudential compliance statement
54 Information about entry contributions that must be included in annual prudential compliance statement
54A Information about other fees that must be included in annual prudential compliance statement
55 Statement and other information that must be included in annual prudential compliance statement
56 Audit of annual prudential compliance statement
57 Disclosure to care recipients
58 Disclosure to prospective care recipients
59 Determination by Secretary of different financial year for approved provider of eligible flexible care service
60 Reviewable decision
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Part 6—Permitted uses of refundable deposits and accommodation bonds
61 Purpose of this Part
62 Use for capital expenditure
63 Additional permitted uses
64 Investment in financial products
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Part 7—Refunds
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Division 1—Payment of interest on refund of refundable deposit balance or accommodation bond balance
65 Purpose of this Division
66 Definitions
67 Application of this Division
68 The person to whom, and the way in which, amounts of interest are to be paid
69 Working out of amount of interest on refundable deposit balance or accommodation bond balance
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Division 2—Payment of interest on refund of entry contribution balance
70 Purpose of this Division
71 Definition
72 Application
73 The person to whom, and the way in which, amounts of interest are to be paid
74 Working out of amounts of interest on entry contribution balances
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Division 3—Additional responsibilities of approved providers in relation to refunds
74A Purpose of this Division
75 Refund of overpaid accommodation payment or accommodation contribution
75A Refund of refundable deposit balance, accommodation bond balance or entry contribution balance
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Part 8—Miscellaneous
76 Choice to be covered by Chapters 3 and 3A of the Act if moving to another aged care service—approved form
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Part 9—Application, transitional and savings provisions
77 Application—amendments made by the Aged Care Legislation Amendment (Financial Reporting) Principles 2017
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history