You are here
Calculating amount of accommodation bond
The accommodation bond rules provide that a person must be left with a certain level of assets after paying a bond. A single person must be left with $22,500 ($23,000 from 2 April 1998) whereas a couple must be left with $45,000 combined ($46,000 from 2 April 1998).
If the value of a person's assets is below these limits, the person may be a concessional resident and cannot be asked to pay an accommodation bond. More
If the value of a person's assets is between $22,500 and $36,000 ($23,000 and $37,000 respectively from 2 April 1998), the person cannot be asked to pay a full bond and would be regarded as an assisted resident. A member of a couple would be regarded as an assisted resident if the value of the couple's assets is between $45,000 and $72,000 combined ($46,000 and $74,000 respectively from 2 April 1998). More
If a person entering low level aged care owns their own home, the value of that home is counted as part of the person's assets when determining the amount they can be asked to pay as an accommodation bond.
However, in certain circumstances the home may be exempt (see Exemption of Home below).