If you are single the limit is $284,636.
If you are a couple and you both need care the limit is $284,636.
If you are a couple, and one of you needs care there are two options:
- This option is often chosen by those who have more limited assets. The limit is $284,636, which includes the value of your home and car.
- This option is often chosen by those who have more assets. The limit is $155,873, which does NOT include the value of your home and car.
The above applies as at July 2024. The amount is adjusted annually and, rarely, as required.
NOTE: This is a guide only. Individual circumstances vary widely, and details may change so get current information from Work and Income.
Other related Knowledge Lab articles include:
What is the residential care subsidy?
Financial means assessment - income & asset testing
How much does living in a residential care home cost?
For more information about residential care
For: an overview of residential care
For: details of all residential care facilities in the country
For: residential care VACANCIES that are updated daily and shown on a map
Updated: 12 Sep 2024