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3.3.5 Time frame to pay accommodation costs
A new resident will have up to 28 days from entering care to choose whether to pay the agreed accommodation price by a refundable amount or daily payment or some combination of both. The daily payment is paid unless and until a refundable deposit is paid.
A resident has up to six months after entry to care to pay a refundable deposit. This enables the resident time to convert/realise assets necessary to pay the lump sum. The resident would be liable to pay a daily payment until the lump sum arrangement is finalised.
The resident pays a DAP or DAC periodically, no more than a month in advance. However, if the resident does not pay the DAP or DAC on time, the resident may be charged interest on the outstanding amount.
A payment for accommodation costs worked out by converting the refundable accommodation deposit (RAD) to a daily amount, which is payable as a periodic amount by aged care residents.
A payment for accommodation that accrues daily and is payable as a periodic amount by aged care residents for whom the Government is also making a contribution.