Family Home Considerations

• Between 1 January 2016 and 31 December 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 and the net rental income received will be assessed under the income test from day one.

• After 1 January 2017
  • Age Pension – the value of home will be assessed in full under the asset test after the two years of continuous care and the net rental income received will assessed in full under the income test from day one.
  • Aged care fees – the value of home will be assessed (at a capped level) under the assets test and the net rental income received will be assessed under the income test from day one.

The capped level amount is $201,231.20 (as at 20 March 2024).