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Assessment after 1 October
From 1 October, pensioners who own their own home prior to entering aged care, will still have access to the rules whereby their former home can be an exempt asset for up to two years following vacation of the home (or until sold if this happens within two years). In these situations the lower homeowner asset value limit is applied. This treatment is a continuation of the pre 1 October 1997 nursing home rules.
Any other pensioner who enters aged care and pays an accommodation bond will be assessed as a non-homeowner, and the higher assets value limit will be applied. This treatment will apply irrespective of the amount the person has paid as an accommodation bond.