fbpx Assessing the family home | agedcare101

How is my family home assessed? 4.5

Assessing the family home

The family home is treated differently to other assets.



Handy Hint - Did you know that if you can click the CC at the bottom righthand side while the video is playing, captions will appear.  To get rid of them, click CC again.
View transcript of video here

The family home is not counted as an asset if there is still someone living in it such as: 

  • Your partner
  • A dependent child (children)
  • A close relative who is eligible for an income support payment from the Australian Government and has been living there for at least five years


  • A carer who is eligible for an income support payment from the Australian Government and has been living in the home for at least two years

A cap on the value of your family home

The government has placed a cap on the assessed value of your family home.  It is referred to as the Home Exemption Cap (which applies separately to both members of a couple*) and the actual amount is increased (or 'indexed') twice a year.

  • 20th March
  • 20th September

The Department of Human Services publishes the current Home Exemption Cap here Schedule of Fees and Charges for Residential and Home Care.

At 20 September 2018 - 19th March 2019, the capped amount on the value of your home is $166,707.20.

If your home is valued at less than the current capped figure, the actual value will be used instead.

If you are part of a couple and your home is included as an asset, 50 per cent of the net market value of the home is attributed to each of you.  The 50 per cent proportion for each of you will be subject to the full value of the cap that applies at the time.  It will be the lower amount of either the cap or the net value of each member's part of the home that will be included as an asset.

You are required to provide every detailed information about your family home and any investment properties.  This includes a realistic valuation backed up preferably by documentation.  We can provide a complimentary appraisal up to three to six months before you complete the test so you have it when meeting your advisors.

Brian WhiteRay WhiteChairman