Will the family home be treated differently under the new legislation?
The family home is currently exempt from the aged care assets test if occupied by a spouse or other protected person. This will continue under the new means testing arrangements.
Where the resident’s former home is included as an assessable asset, its value for the purposes of the test will be capped at $144,500 (March 2012 prices).
The family home will continue to be exempt from the Aged Care assets tests if occupied by a spouse or a protected person.