Blog #11 Fact #10 What are the current asset thresholds for aged care and what do they mean?

As of September 2021, they are as follows:

Between $0 and $51,500 – This is the Asset Free Threshold – If a person has assets between these amounts there is no asset fee payable

Between $51,500 and $175,239.20 – Once assets are over $51,500 and under $175,239.20, a person would pay 17.5% of the difference up to $175,239.20. They would not be required to pay care fees but may be asked to pay an accommodation contribution

Between $175,239.20 and $422,717.60 – Once assets are above $175,239.20, and less than $422,717.60 they will  be asked to pay the full cost of a room, plus 1% of assets above the $175,239.20 to the $422,717.60 level as a means tested asset fee

With assets above $422,717.60 a person will be asked to pay the full cost of a room plus 1% of assets above the $175,239.20 up to $422,717.60 plus an additional 2% of assets over this amount as a means tested fee asset fee.

There are yearly and lifetime capped limits placed on means tested fees