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Balance Retirement & Aged Care Specialists

Archive for the ‘Aged Care Advice’ Category

Are You Moving Your Parents into your Home and Building a Granny Flat?

Aged Care Advice, News | 9th April 2024

Are you contemplating moving your parents on to your property and potentially building a Granny Flat? One important topic to discuss in this situation, is if mum or dad own their property and sell it, this could affect their pension. If your parents gift you some of the proceeds of the sale of their property, […]

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Can I transfer assets to my children without it affecting my pension entitlement?

Aged Care Advice, Aged Care Planning, News, Retirement Village Planning | 11th April 2023

How can you transfer assets to your family without affecting your pension OR enable you to receive some pension? A Granny flat right might be the answer AND there does NOT need to be any Granny flat built! Imagine if you needed more support or care, or wanted to be closer to your family BUT […]

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Having problems with Centrelink or Department of Veterans Affairs (DVA)?

Aged Care Advice, Aged Care Planning, News, Retirement Village Planning | 11th April 2023

Are you not getting the right amount of pension? Are you having problems getting your pension entitlements fixed, or getting the pension at all? Are you having trouble getting aged care fees corrected? Is it possible to get more? Do you think you might be entitled to some pension? Understanding Centrelink & DVA policies, procedures […]

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How do Low Interest Rate Environments Affect Someone moving into Aged Care?

Aged Care Advice, Aged Care Planning, News | 24th March 2022

When someone moves into an Aged Care facility and sells their home to pay the Accommodation Payment as a Refundable Accommodation Payment (RAD, or Lump sum), if they have residual funds left over after paying the RAD, then there may be an impact on: Age Pension and Service Pension The residual funds left over after […]

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Featured Facilities – Riverview at Carrington

Featured, News, Retirement Service Facilities | 26th November 2021

Are you, or someone you know looking to downsize or move into a retirement village? If your answer is ‘Yes’, then the Assisted Living Apartments at Riverview at Carrington may be for you. Situated in the secluded Carrington Estate at Camden, the Riverview Assisted Living Apartments are designed to offer low maintenance, luxury apartments for […]

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New deeming rates commence for Centrelink & DVA Pensions

Aged Care Advice | 1st October 2019

From the 20th September 2019 Centrelink & DVA (Dept. of Veterans Affairs) will apply the new deeming rates, which were announced in July this year. Centrelink & DVA use an income and asset test to work out how much pension they can pay pension recipients. Centrelink & DVA include any “deemed income” in the income […]

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September 2019 Changes to Centrelink & DVA Pensions

Aged Care Advice | 1st October 2019

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $850.40pf $68.90 +$14.10 $933.40/pf Couple $641.00/pf $51.90 +$10.60 $703.50/pf each $1407.00/pf combined Illness separated […]

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September 2019 Changes to Aged Care Fees

Aged Care Advice | 1st October 2019

The Government has announced the indexation to the Aged Care Fees for September 2019, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $51.63/day Annual Limit of Means Tested Fee $27,754.52 pa Lifetime limit of Means Tested Fee $66,610.90   Pre July 2014 Residents Basic […]

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March 2019 Changes to Aged Care Fees

Aged Care Advice | 20th March 2019

The Government has announced the indexation to the Aged Care Fees for March 2019, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $51.21/day Annual Limit of Means Tested Fee $27,532.59 pa Lifetime limit of Means Tested Fee $66,078.27   Pre July 2014 Residents Basic […]

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March 2019 Changes to Centrelink & DVA Pensions

Aged Care Advice | 20th March 2019

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $843.60/pf $68.50 +$14.10 $926.20/pf Couple $635.90/pf $51.60 +$10.60 $698.10/pf each $1396.20/pf combined Illness separated […]

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