If you are applying in registration Category 6: Residential care you must deliver all the service types within that category.

For guidance on other questions specific to this category, please see Guidance applicable to Category 1 - 6 specific requirements.

Your response to this question helps us to understand how you will responsibly manage refundable deposits (RD) from older people you are delivering residential aged care services to. RDs are a significant financial obligation and must be managed in accordance with legal, ethical, and financial standards to protect the interests of older people and maintain public trust. 

Your response should include the policies, procedures and systems you have in place to manage RDs. This includes how you will:

• accept and hold RDs, including the process for offering RD and daily accommodation payment options.

• ensure an older person’s net assets remain above the minimum permissible asset value

• comply with relevant requirements (e.g., sections 307 and 308 of the Aged Care Act 2024), particularly in relation to the deduction of fees or amounts from the RD balance, including retention amounts

• manage deductions and compliance with permitted uses and how this is communicated to older people or their representatives

• process refunds of RD balances within required timeframes and determine if and when interest is payable

• manage the transfer of balances of RDs where an older person moves to another approved residential aged care home operated by a different registered provider

• implement financial controls and management systems, including reconciliation, internal reviews and appropriate oversight 

• structure invoice, payment and service reconciliation processes to support accurate financial management

• handle payment disputes fairly, promptly and in line with internal dispute resolution processes

• communicate clearly with older people or their representatives, ensuring they understand their rights and obligations related to RDs, including through written agreements and accessible information.

• ensure governance oversight of RD management by your board (if applicable), including regular reporting.