Deeming
Deeming rules are used to work out income from your financial assets. We add this to your other income and apply the income test to determine your payment rate.
- Aged care calculation of your cost of care
- How to manage your aged care costs
Annual and lifetime caps for your aged care costs
There are annual and lifetime caps for your aged care costs. They apply if you started care after 1 July 2014.
Financial investments
The value of your financial investments counts in the assets test and income test for payments from us.
Sole trader or partnership income
Business income is counted in the income test.
- Aged care calculation of your cost of care
- How to apply online
Supporting documents for an aged care calculation of your cost of care
When applying for an aged care calculation of your cost of care, you’ll need to give us some supporting documents.
- Looking for work
- Most useful information
Profit and Loss Statement form (SU580)
Use this form if you are a sole trader, subcontractor or a partner in a partnership that has started new employment or a new business.
Lump sums while on income support
A lump sum is a one-off amount of money. They can count in your income test and may affect your payment from us.
- Aged care calculation of your cost of care
- Who should apply
Aged care calculation of your cost of care if you get an income support payment
We may have your financial details if you get a relevant income support payment from us or the Department of Veterans’ Affairs.
- Asset types
- Gifting
How much you can gift
Your payment may be affected if you gift more than the value of the gifting free area each year.
- Asset types
- Gifting
What gifts we include in income and assets tests
We may include your gift if you give away, sell or transfer it for less than its market value.