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An income tested care fee – information is on page 5. 4.3 Annual and lifetime caps These are limits on the amount of income tested care fees: Full pensioners pay no income tested care fees. They can be asked to pay a basic fee. For part-pensioners, and people with equivalent incomes, income tested The Basic Daily fee is not income tested. It is a fixed daily amount (depending on the package level assigned) and is approximately $10 for all package levels. The Package Provider may ask you to pay these fees.

Hcp income tested fee

Services Australia deducts this amount from the Government subsidy paid to you on George’s behalf. This reduces the subsidy to $6750 a year ($8750 minus $2000). Income Tested Fee: Determined and required by the Government Based on an income assessment If you are a self-funded retiree or on a part-pension you may be required to pay this The Provider cannot waive this fee. Daily Care Fee: Determined and required by the Provider Not based on your income or if you are on a pension The ‘Income Tested Fee’ is based on an assessment of your financial situation and is a contribution from the Home Care Package holder towards their funding. If you are part-pensioner or a self-funded retiree and the government assesses that are required to pay an Income Tested Fee, then you must pay this when you accept your Home Care Package. If you have an income of more than $53,731.60, you will pay an income tested care fee on a sliding scale up to a total of $11,234.96 per annum.

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Whilst some Home Care Package providers charge this as a mandatory fee, at Silver Chain, we work with you to balance your package budget so that you don’t need to contribute this amount. Income tested fee. The income tested fee is different for everyone because it’s based on your individual income.

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However, no one will pay more than $67,409.85 in an income tested care fee over their lifetime (1 January 2021 rates). An income tested home care package consists of Government Subsidy money minus the Income Tested Fee which then can be topped up with the Basic Daily Fee. Income Income Tested Fee Income above $ $26,764.40 but below $51,667.20 (capped at $5,392.91 p.a.) $14.81 per day. HCP funding is income-tested, which determines if the government will provide the full subsidy amount or reduce it for you to contribute the rest toward the cost of your services (the value of your family home is not included in the assessment). This contribution, if required, is called an Income-Tested Fee (ITF). CHSP providers charge a client contribution to help cover the cost of your service. The Australian Government funds the bulk of CHSP services, so the fee will be less than the total cost of the service.

If you earn more than $54,168.40 a year, your income-tested care fee is capped at $11,335.48 a year.
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There is a lifetime cap of $68,012.98 as at 20 March 2021. 2018-05-31 Income-tested care fee. An income assessment determines if you need to pay this fee. If your income is over the maximum income for a full pensioner you will be asked to add a means-tested contribution to your package. While your personal financial situation won’t affect your eligibility for an HCP, you will be required to undergo a financial 2019-10-01 2018-05-31 Some of the fees and costs depend on your financial situation.
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Indexation can change your income-tested care fee and basic daily fee. Changes to annual caps. Indexation of annual caps can affect the amount of income-tested care fees you can be asked to pay in a year. Currently the maximum amount is: $15.57 per day or $5,667.73 per year for people with income at or below $54,168.40 Both sets of fees are taken into account when calculating the maximum income-tested care fee. In a lifetime the maximum you can be asked to pay is $68,012.98 (as of March 2021) You can’t be asked to pay more than 50% of any income above the basic age pension rate.

An income tested home care package consists of Government Subsidy money minus the Income Tested Fee which then can be topped up with the Basic Daily Fee. Income Income Tested Fee Income above $ $26,764.40 but below $51,667.20 (capped at $5,392.91 p.a.) $14.81 per day. HCP funding is income-tested, which determines if the government will provide the full subsidy amount or reduce it for you to contribute the rest toward the cost of your services (the value of your family home is not included in the assessment). This contribution, if required, is called an Income-Tested Fee (ITF). CHSP providers charge a client contribution to help cover the cost of your service. The Australian Government funds the bulk of CHSP services, so the fee will be less than the total cost of the service. Read more about CHSP fees.
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This fee is based on income only not assets. $98.20 per hour.