Assets Assessments for Entry into Permanent Residential Aged Care

This section of the website contains information about assets assessments for entry into permanent residential aged care.

In this section:

The purpose of an assets assessment is to determine whether a person may be eligible to pay an accommodation payment, or if the aged care home is eligible to receive an Australian Government subsidy on behalf of a person. An assets assessment also helps to clarify the maximum amount of accommodation payment that a person may be asked to pay.

Assets assessments are undertaken prior to entry, wherever possible.

How the assets testing arrangements work

People wishing to have an assets assessment complete a Request for an Assets Assessment form and submit it to Centrelink or the DVA (in the case of veterans).

Forms are available through Aged Care Assessment Teams (ACATs) at the time people are assessed for entry to aged care. They are also available through other sources such as the Aged Care Information Line and the Department's website.

When an assets assessment is completed, the applicant will be advised in writing of the decisions made by Centrelink or the DVA on the assessed net value of their assets and their resident status. They will also be given an itemised list of their assets and advice as to the period during which their assets assessment decisions will be current. They can use this information to assist them in seeking entry into permanent residential aged care.

Applicants will also be given separate advice, including the decision as to their assessed resident status and the period during which the decision will be current, which they may choose to pass on to a prospective provider. Except in the case of people who have been assessed as eligible for concessional resident status, this separate advice will include the net value of their assets.

Decisions as to the assessed value of assets and eligibility for concessional or assisted resident status are given specified currency periods to ensure that they are relatively current at the time the person enters residential care.

Request for an Assets Assessment form

Aged Care Assets Test – Gifted assets and income streams

Information about the effect of gifted assets and income streams in relation to the aged care assets test may be obtained through:

Gifted assets and income streams changes

For further information

Further information about the new assets testing arrangements can be obtained by calling the Aged Care Information Line on 1800 500 853.
Top of page