This provider fact sheet explains investment management strategy, which is part of the Prudential Standards.
The Prudential Standards contained in the Aged Care Act 1997 (Act) and the Fees and Payments Principles 2014 (No. 2) detail your responsibilities for the use and management of your residents' refundable accommodation deposits (RADs).
Section 52G-3 of the Act states that the Minister for Aged Care may set a maximum amount of accommodation deposit. Currently, this maximum amount is $550,000 as a RAD (or the equivalent Daily Accommodation Payment (DAP)).
This fact sheet explains what you can do if you have been overcharged a refundable accommodation deposit (RAD) or daily accommodation payment (DAP) by your provider.
A fact sheet that introduces the responsibility for providers to consider the suitability of their key personnel at least every 12 months.
A fact sheet that informs providers of their governing body membership requirements.
This example response supports the information providers need to consider when reporting stealing or financial coercion in the My Aged Care portal.
Download the guidance material for the Aged Care Quality Standards. It includes an introduction, guidance for each of the 8 Quality Standards and a glossary.
This resource is not available to order.
People who enter residential care can pay for their accommodation costs with:
- a refundable deposit
- a daily payment
- a combination of a refundable deposit and a daily payment.
When a person transfers to another service, permanently leaves care or passes away, you need to refund their refundable deposit.
The aged care system is changing, and we want to hear from you.
Have your say and help shape the future of aged care.