4.4 What are counted as assets | Compensation and Support Reference Library, Aged Care Means Testing, 4 Aged Care Means Testing

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4.4 What are counted as assets

Asset assessment rules for aged care means testing broadly align with the rules for income support pensions from 1 July 2014, including the $10,000 nominal value of home assets and that only debts against specific assessable assets are allowed as deductions.

Differences in asset assessment rules for aged care means testing are:

  • inclusion of accommodation bond and refundable accommodation deposit or contribution balances,
  • treatment of the principal home has been modified (see next section).