Loss of hearing is just one of the many “joys?” of getting older that affect many of our clients. Deafness can be rather isolating, if you can’t hear what is being said or going on around you, & usually can be one of the reasons that many older people suffer from depression, as they disengage […]

Every Wednesday at 9pm, our Principal Eric Hiam speaks on 2UE Talking Lifestyle 954AM about the various aspects of the Aged Care process.

The Government has announced the indexation to the Aged Care Fees for September, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $48.44/day Annual Limit of Means Tested Fee $26,041.09pa Lifetime limit of Means Tested Fee $62,498.66 Pre July 2014 Residents Basic Daily Care Fee […]

i) Balance Financial Solutions & ii) Balance Aged Care Specialists   This has been driven by the Financial Planning Industry’s recent involvement in Aged Care, requiring any “advice” to be provided in a “Statement of Advice” (SoA) format , which takes much longer & costs a great deal more to provide, consequently the charges to […]

Centrelink Pension rates There are different rates of Age Pension payments for single people and couples. Your rate also depends on your income, assets, and other circumstances. Basic Rate Plus + Supplements Total Pension Single $797.90pf $65.10+$14.10 $877.10pf Couple            $601.50pf $49.10+$10.60 $610.20pf each $1322.40pf combined Illness separated couple     […]

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 $788.40pf $64.50 +$14.10 $867.00pf Couple $594.30 $48.60 +$10.60 $653.50pf each $1,307pf combined Illness separated […]

It is a sad fact that around 45% of our clients suffer from some form of dementia & it has been determined worldwide in 2010, that 36 million people suffer from some form of dementia , & it is estimated that by 2030 that figure will rise to around 70 million people, & by 2050, […]

As mentioned in previous newsletters, Centrelink & DVA will be changing the “Assets Test Taper” which for many pensioners will reduce their pension entitlement & for some, will lose their pension entitlement completely. However, there has been no discussion to date on the impact this change will have on the Means Tested Fees (for those […]

The purpose of Dementia Awareness Month is to encourage Australians to become dementia-aware, have a better understanding of what it is like for a person to live with dementia, and ultimately be encouraged to create communities where people with dementia are supported to live a high quality of life with meaning, purpose and value. The […]

Centrelink & DVA apply a “deemed” rate of interest (when determining the Income Test for Pension purposes, & consequently aged care fee purposes) on investments like bank accounts, term deposits, shares, managed funds, Allocated Pensions (post Jan 2015), & loans to companies, trusts or families, & to gifts in excess of the gifting threshold). The […]