If you would like to know how much you might have to pay towards your Home Care Package or aged care home, our fee estimator can give you an estimate – to help you plan.
This simple calculator asks for a few details (about your income, assets and household) to calculate what your fees might be. The figures it provides are an estimate. The exact amount you pay will depend on your financial situation when you enter care and the provider you choose.
The Fee Estimator is for
People applying for:
- a Home Care Package
- a place in an aged care home
If you are applying for services under the Commonwealth Home Support Programme (CHSP), MPS program or Short-Term Care, your costs will be different. Find out more about CHSP or Short-Term Care costs.
What do I need?
Before you get started, you will need to gather some information about your financial situation. If you have a spouse or partner, you should include your combined income, assets and debts.
To get an estimate you will need the total figure for each of these categories:
Your income
You should include:
- income support payments from the Australian Government such as the age pension or service pension
- net income from rental property
- war widow/widower pensions and some disability pensions
- net income from businesses, including farms
- income from superannuation income streams such as annuities and allocated pensions
- overseas pension income
- family trust distributions
- dividends from private company shares.
Do not include interest from your bank accounts or financial investments. That gets calculated automatically using the current government deeming rate.
If you received the one-off cost of living payment of $250.00 – announced as part of the Government's 2022-23 budget – you do not need to include it here.
For more guidance on what income to include, see the Income and Assets Checklist.
Your financial assets
You should include:
- bank, building society and credit union accounts
- cash
- term deposits
- cheque accounts
- friendly society bonds
- managed investments
- listed shares and securities
- loans and debentures
- shares in unlisted public companies
- gold and other bullion
- gifted assets - if you have gifted amounts above $10,000 in the last financial year or $30,000 in the last five financial years (with no more than $10,000 in any financial year), include the amount above these limits as a financial asset.
If you have a partner, enter your combined financial assets. Do not include your family home as a financial asset. Information about your family home is only needed if you enter residential care.
For more guidance on what types of financial assets to include, see the Income and Assets Checklist.
If you are applying for a place in an aged care home, you will also need:
Value of your family home
Here you need the market value less any mortgage that currently exists. You do not need to get it professionally valued, use your best estimate based on other house sales in the area.
Or if you are in a retirement village, include the net amount of any entry contributions you will get back when you leave.
Your family home can be a house, unit, caravan, mobile home or interest in a retirement village owned by either you or your partner. Granny flats are not included. You can only have one family home and its value may not be included if it remains the long-term home of a close family member or carer who is eligible for income support.
Your superannuation and other assets
You should include:
- household contents and personal effects (these are typically valued at $10,000)
- foreign assets including investments, business interests, and real estate
- investment property
- special collections such as stamps, art works or antiques
- superannuation balances
- private trusts, family trusts, and private companies
- refundable accommodation deposits and contributions.
For more guidance on what types of other assets to include, see the Income and Assets Checklist.
Your debts
Here you should include any loan, mortgage, charge or encumbrance held over any asset which has been included in the categories above.
Do not include the value of the mortgage over the family home (if there is one), as this is included as part of the value of your home. And do not include any credit card debt or unsecured personal loans.
For more guidance on what types of debt to include, see the Income and Assets Checklist.
Once you have totals for each category, add them into the fee estimator below and click "Estimate my fees" to see an itemised printable estimate.
