Bond payable & assessed once only | Compensation and Support Reference Library, Departmental Instructions, 1998, C12/1998 AGED CARE REFORMS , ATTACHMENT A - CALCULATING IF ACCOMMODATION BONDS PAYABLE

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Bond payable & assessed once only

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A person pays an accommodation bond once only, on entry to aged care.  Thereafter, if the person moves from one facility to another, the balance of the bond is rolled over to the new facility and the person is not required to pay an additional amount.

Likewise, a person's assets are assessed once only at the time the accommodation bond is negotiated.  If the person's assets vary after the bond has been agreed, the amount of the bond is not reassessed.