Family Home Considerations

Keeping your home (and rent out)
When it comes to aged care fees and the Age Pension, there are specific rules that govern the assessment of a family home that has been rented out to help pay for accommodation payments associated with entering a residential aged care facility. For example, if you entered a residential aged care facility:

• Prior to 1 January 2016
  • Age Pension – the value of home and the net rental income received will be exempt from the income and asset tests.
  • Aged care fees – the value of home will be assessed (at a capped level) under the asset test, but the net rental income received will be exempt from the income test.