Prudential legislation and regulations set the requirements on residential aged care providers for the management of refundable accommodation deposits (RADs) they receive from residents.
In the 2018-19 Budget the Government agreed in principle to strengthening the protections and guarantees of RADS in consultation with the sector.
The department is calling for submissions in response to its discussion paper, Managing Prudential Risk in Residential Aged Care.
Submissions will open on 1 February 2019 and close on 15 March 2019.
The discussion paper and further information are available from the Consultation Hub