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Example bond calculation - partnered homeowner
Peter and Claire are a married couple who own their own home worth $250,000. They have other assets worth $120,000.
Claire is admitted to a nursing home but Peter continues to reside in the family home.
Because Peter continues to reside in the family home, it is exempt from assessment when determining the maximum accommodation bond Claire can be asked to pay. The maximum amount of her bond would be calculated as follows:
Family Home$250,000 (excluded)
Half of $120,000 $ 60,000
Less amount Claire
must be left with$ 22,500
Maximum bond Claire
can be asked to pay$ 37,500
Note: figures used in example are pre 2 April 1998 increase.