The department sent a message on 13 August 2019 advising of changes to the deeming rates and base interest rate (BIR).
To clarify, the:
- deeming rates changes announced on 13 July are backdated to 1 July 2019
- BIR takes effect from 1 August 2019 (section 4 definitions Fees and Payments Principles 2014 (no 2))
Accordingly, the BIR was 3.75% for the period 1 July 2019 to 31 July 2019 and is 3.0% from 1 August 2019.
Questions about the deeming rates can be directed to Services Australia's Aged Care provider line on 1800 195 206.
Questions about the base interest rate can be emailed to the department's prudential area at firstname.lastname@example.org.