Generations Personal & Professional AdviceFinancial Services Partners


The way our Aged Care system operates changed significantly on 01 July 2014. Some of the more significant changes that will affect those moving to care in the future are highlighted here.

There is no longer a distinction between High Care and Low Care, Hostel's and Nursing Homes. Accommodation Bonds based on a person's assets are no longer charged for low care and the high care Accommodation Charge has been replaced.

Accommodation Payments known as Refundable Accommodation Deposits (RAD’s) or Daily Accommodation Payments (DAP’s) are now charged in conjunction with Refundable Accommodation Contributions (RAC’s) and Daily Accommodation Contributions (DAC’s).

The Accommodation Payment that will be paid is now based on a new Means Tested Fee. This Means Tested Fee is also used to calculate what you will pay to the cost of your care. The Retention Amount is no longer charged and annual and lifetime caps have been introduced for the new Means Tested Fee.

Aged Care is now more complex and expensive than ever!

Please refer to the following brochures and websites for further information.

Aged Care Processes

Aged Care Graphic Diagram

I would love to recommend Megan McGrath as a very competent, enthusiastic and well informed consultant in the field of Aged Care advice.
Nothing was too much trouble for her while attending to my mother's current needs and all possible future financial opportunities.
I was extremely happy with the results and would highly recommend her services to anyone especially prior to moving into an Aged Care Facility.
Denise Boulton.