Sample Fee

Sample accommodation deposits and payments

A refundable accommodation deposit of $550,000 would attract an equivalent daily payment of:

 

Refundable accommodation deposit X MPIR
365
= $550,000 X 6.36%
365
= $95.84 per day
 

A refundable accommodation deposit of $400,000 would attract an equivalent daily payment of:

 

Refundable accommodation deposit X MPIR
365
= $400,000 X 6.36%
365
= $96.70 per day
 

You may elect a combination payment of RAD & DAP

 

The following are some examples:

 

A combination payment for a $550,000 price may be a refundable accommodation deposit of $400,000 and a daily accommodation payment of the remaining $150,000 of:

 

Balance of Price X MPIR
365
= $150,000 X 6.36%
365
= $26.14 per day

(This daily amount is payable in addition to the RAD)

 

 

A combination payment for a $550,000 price may be a refundable accommodation deposit of $200,000 and a daily accommodation payment of the remaining payment of the remaining $350,000 of:

 

Balance of Price X MPIR
365
= $350,000 X 6.36%
365
= $60.99 per day

 


 

Please note that the Department of Social Services (DSS) has established a cap on the amount a resident can pay in one year as well as a lifetime cap. Residents will receive advice from the service and the Government when these caps have been reached.

Napier Street Aged Care Services will answer any questions you may have regarding costs associated with admissions as far as we are able.

However we encourage potential residents and their families to seek independent professional financial advice.

 

New Entrants - Daily Basic Care Fee

 

New Entrants - RAD