How to assess assets and income

Your assets and income will be assessed and determined by Services Australia by conducting a means test called a Combined Income and Assets Assessment.

First start by completing the means and income assessment to see if you’re required to complete the means test.

The outcome of the assessment can take time to be completed (four to six weeks) therefore it's a good idea to start the process and have the assessment completed (if required) as soon as possible when you start looking at aged care options and it remains valid for 120 days.

When referring to assets this can include the family home, unless there’s a protected person living in the home. We advise you seek advice from a financial planner before you complete the assessment and to understand the best payment options for you.

While you’re waiting you can also complete My Aged Care’s Fee Estimator which will ask you for information on your income and assets, which includes the value of your family home, therefore it’s a good idea to prepare this in advance to get as accurate an estimate as possible.

If you require assistance, please contact one of our team on 1300 682 833