Centrelink and Aged care

Both these areas are a bit of a nightmare for most, with the current system of limited access to a person to discuss your situation and the DIY system MyGov- (it’s useless if you don’t use or are uncomfortable to use a computer). It can be a daunting exercise to get the maximum benefits available to you.

Age Pension and other entitlements:

Whether you are receiving age pension or nearing retirement and are at age pension age, with all the recent and continued changes to legislation it is hard to keep on top of what you may be entitled.

What strategies do you have in place or intend to implement to be able to legally maximise benefits available to you. Or do you know what you can do?

Don’t just accept what you are receiving as it is too hard to get anything changed, get the appropriate financial advice to analyse your current situation to be able to get the best outcome on an ongoing basis, keep on top of all the changes to financially benefit.

Each individual or couple can apply different strategies to benefit their personal cash flow to assist with their lifestyle expenses in order to enjoy their retirement.

With changes already legislated and in force as of January 2017 regarding the Asset and Income test- now is the time to get the appropriate advice.


Aged Care

Having to consider the aged care options is a traumatic experience just to understand what is available and what are the costs associated. This applies for both the parents and children assisting this important transition.

There is a lot to take in and a lot to consider when looking at aged care.

The following are the main terminologies to consider:


What does this mean!


  • Aged care assessment (ACAT). Needs to be conducted before eligibility.

  • Accommodation Payment- what cost for different services or rooms. Each facility have different costs. Residents have a choice of how to pay for this service. RAD- Refundable Accommodation Deposit, DAP- Daily Accommodation Payment or a combination of both.

  • Daily Care fee- Fee paid by all residents and constitutes 85% of their age pension entitlements.

  • Means tested fee- Residents Income and assets are assessed to determine their relevant means tested amount. An Indexed minimum annual Cap and lifetime cap to protect residents with higher than average care fees.

  • Fees for extra services or other additional care and services 

Additional fees applied for a higher standard of accommodation or ancillary services provided. Each aged care facility provider will provide details of these costs.


At CDN Financial Services we can help you understand the best options available to your personal situation, to enable the best outcome for you.


Contact us to organise an obligation free first appointment to explore the opportunities and discuss in detail what’s available.