How do I complete an income and assets test? 4.3

Completing the Income and Assets Test

To receive a Commonwealth subsidy for some or all of your care and accommodation costs, you must have a means test called the Income and Assets Test.  

It can take four to six weeks to get the results so it’s a good idea to apply to have the assessment as soon as possible.

 

Remember:


We  strongly advise and assist our clients to complete the combined income and assets test before they enter an aged care home because the government's assessment of your test decides how much you have to pay for the aged care home and it may be significantly more than you expect. 

Kate Golder, DirectorAffinity Aged Care Financial Services

How do you do the income and assets test?

 

 

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

 

You can get the Combined Assets and Income Assessment test (SA457) form by:

or:

  • Calling the My Aged Care contact centre on 1800 200 422 open 8am - 8pm Monday to Friday and 10am - 2pm Saturday.

When you have completed it, you need to return the form to the Department of Human Services or the Department of Veterans’ Affairs.  The instructions are on the form.  

The Department of Human Services will send you a letter with the results of your assessment, including an itemised list of your income and assets.  This will tell you how much, if anything, you need to pay towards the cost of your care and accommodation.  

In the meantime, you can get an estimate of the fees and costs you may have to pay by using the Aged Care Fee Estimator.

  

Remember:


 

You don't have to wait for an ACAT assessment to apply for the income and asset assessment.  You can do this any time and know it is usually valid for 120 days.

 

Top