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Section: 9.16

The assessment of complying asset test exempt income streams for aged care fee purposes differs depending on whether the aged care resident is assessable under pre 1 July 2014 or post 1 July 2014 rules.

Under the pre 1 July 2014 rules, complying income streams were 100% asset test exempt when calculating assessable assets for accommodation payment purposes. The 100% asset test exemption under the pre 1 July 2014 rules applied even for complying income streams purchased between 21 September 2004 and 20 September 2007 that receive a 50% asset test exemption for Centrelink/ DVA purposes.

This differs from the post 1 July 2014 rules, where the assessment of complying income streams was aligned with the Centrelink/DVA rules. Under the post 1 July 2014 rules, complying income streams purchased prior to 20 September 2004 receive a 100% asset test exemption and complying income streams purchased on or after 20 September 2004 and before 20 September 2007 receive a 50% asset test exemption.

Last modified: Tuesday, May 2, 2017