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Concessional residents are residents who:
- are DVA or Centrelink income support pensioners; and
- have assets less than 2.5 times the single rate of age pension expressed as an annual amount - $22,500 for a single person and $45,000 combined for a couple ($23,000 and $46,000 respectively from 2 April 1998); and
- have not owned a home in the last two years, or, own a home but that home is exempt from assessment for accommodation bond purposes (see Exemption of Home More).
Special rules also apply where a person is in hardship because they have unrealisable assets (see Residents in Hardship More
Because concessional residents have low levels of assets, they cannot be asked to pay an accommodation bond.
Aged care providers receive additional Commonwealth Government subsidies for each concessional resident for whom a place is provided.