If you’re enjoying a well-earned retirement, or looking out for the interests of your parents who are, there may come a time when rest home care is required, and you have to deal with funding the cost of that care.
There is government support available in the form of the Residential Care Subsidy, but there are tests that determine whether or not you are eligible for this.
The rules around eligibility for the Residential Care Subsidy are an area where there are a lot of myths and misunderstandings. Hopefully we can help provide some clarity in this article - and of course talk to us at GRA if you would like help with these issues.
With that in mind, if you are looking at an application for the subsidy for you or a loved one, it is worth noting the following points.
Two tests: There are two tests that get applied in order to assess whether or not you are eligible. First there is an asset test. Second there is an income test.
What should be coming through loud and clear here is that the rules in relation to the Residential Care Subsidy are complex. As with most things, it’s best to get advice sooner rather than later if you foresee this as an issue, so you know where you stand.
As always, GRA will be happy to provide advice in relation to the Residential Care Subsidy. You can contact us via our online form, by phoning +64 9 522 7955, or via email at [email protected].
I would like to express my gratitude for taking the time to meet with me today. It's always a pleasure to connect with a knowledgeable and talented consultant like yourself. Our conversation was truly enjoyable, and the overview you provided was exactly what I've been looking for.
- CH, August 2023
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