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How can I afford aged care?

The Australian Government takes measures to make aged care more affordable and accessible by providing subsidies and regulating fees.

To receive Government subsidies, you need an Aged Care Assessment (ACAT).

Call My Aged Care on 1800 200 422 to arrange an ACAT assessment, alternatively you can take the My Aged Care Eligibility Quiz. This will help to determine your needs and eligibility to receive funding towards the cost of care.

If you receive a means tested income (pension), ensure Centrelink/Services Australia has up to date details on your income and assets.

The information on record will determine the applicable fees.

They set maximum daily care and accommodation fees while assisting individuals in determining their own contribution based on their assets and income.


The Palm Lake Care Customer Experience Team can guide you through each step, tailored to your individual circumstances.

Understanding the fees and charges associated with aged care is made easier by the knowledgeable Palm Lake Care Customer Experience Team, who will explain them in a simple yet comprehensive manner using our Quoting Tool.

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Maximum prices shown may not apply to you

The Government requires every licensed care provider to advertise maximum prices for accommodation, however these may not apply to you.

Each person entering permanent care will have their income and assets assessed by Services Australia- either directly or through the submission of a Combined Income and Assets Assessment Form.

Permanent Residential Aged Care Request for a Combined Assets and Income Assessment


Residential Aged Care Property details for Centrelink and DVA customers

Services Australia will provide you with a Fees Summary using the outcomes from the Assessment.

Every person pays the Basic Daily Care Fee. Your individual financial circumstances will determine if additional fees are required, such as:

Low Means

You pay the Basic Daily Care fee and the government will pay for the balance of your care and accommodation costs.

Partly Supported (Govt contribution)

You pay the Basic Daily Care fee PLUS a contribution towards your accommodation costs, a Daily Accommodation Contribution. The Government will fund the balance of the care and accommodation costs.


If your income and/or assets are above a financial threshold, you will pay the Basic Daily Care fee, the accommodation costs-a Refundable Accommodation Deposit and a Means Tested Care fee.

Fees and payments

  • Basic Daily Fee
  • Means Tested Care Fee
  • Accommodation Payment

Basic Daily Fee

Everybody contributes to the day-to-day living expenses such as meals, cleaning and laundry.

  • Indexed at 85% of Standard Aged Pension
  • Pensions continue to be paid into nominated bank account, and billed monthly
  • Also applies for respite stays, payable in advance of admission via credit card or bank transfer.

Means Tested Care Fee

A contribution that some people pay toward the cost of their care, determined by a means assessment.

If the government determines that you are able to contribute towards the costs of your care, you’ll be asked to pay this fee. It is reviewed quarterly and may be adjusted to reflect changes in your financial circumstances.

Accommodation Payment

An amount that some people pay to contribute towards or cover the full costs of their room, depending on their means assessment.

For pricing, please contact our Customer Experience Team or visit your local residential aged care home.

There is three ways you can choose to pay for your accommodation explained below.


The 3 payment options


A lump sum Refundable Accommodation Deposit (RAD)


Rental style Daily Accommodation Payment (DAP)


Combination part lump sum and part ongoing payments

We're here to help

Our Customer Experience Team can help with information tailored to individual circumstances. We can give you peace of mind.