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Balance Retirement & Aged Care Specialists

News

Changes to our Business

Aged Care Financial Advice | 20th September 2016

i) Balance Financial Solutions & ii) Balance Aged Care Specialists   This has been driven by the Financial Planning Industry’s recent involvement in Aged Care, requiring any “advice” to be provided in a “Statement of Advice” (SoA) format , which takes much longer & costs a great deal more to provide, consequently the charges to […]

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Increase in Age Pension, Service & War Widows Pensions

Aged Care Planning | 20th September 2016

Centrelink Pension rates There are different rates of Age Pension payments for single people and couples. Your rate also depends on your income, assets, and other circumstances. Basic Rate Plus + Supplements Total Pension Single $797.90pf $65.10+$14.10 $877.10pf Couple            $601.50pf $49.10+$10.60 $610.20pf each $1322.40pf combined Illness separated couple     […]

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September 2015 Changes to Centrelink and DVA Pensions

Aged Care Advice | 20th September 2016

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $788.40pf $64.50 +$14.10 $867.00pf Couple $594.30 $48.60 +$10.60 $653.50pf each $1,307pf combined Illness separated […]

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“Like” us on Facebook- Donations to Alzheimer’s Australia

Aged Care Financial Advice | 20th September 2016

It is a sad fact that around 45% of our clients suffer from some form of dementia & it has been determined worldwide in 2010, that 36 million people suffer from some form of dementia , & it is estimated that by 2030 that figure will rise to around 70 million people, & by 2050, […]

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Impact on Aged Care Fees, as a result of January 2017 changes to Centrelink/DVA Assets test

Aged Care Financial Advice | 19th September 2016

As mentioned in previous newsletters, Centrelink & DVA will be changing the “Assets Test Taper” which for many pensioners will reduce their pension entitlement & for some, will lose their pension entitlement completely. However, there has been no discussion to date on the impact this change will have on the Means Tested Fees (for those […]

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Dementia awareness month -September 2016

Health Issues And Aged Care | 16th September 2016

The purpose of Dementia Awareness Month is to encourage Australians to become dementia-aware, have a better understanding of what it is like for a person to live with dementia, and ultimately be encouraged to create communities where people with dementia are supported to live a high quality of life with meaning, purpose and value. The […]

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Changes to the Pension Deeming thresholds

Aged Care Advice | 10th August 2016

Centrelink & DVA apply a “deemed” rate of interest (when determining the Income Test for Pension purposes, & consequently aged care fee purposes) on investments like bank accounts, term deposits, shares, managed funds, Allocated Pensions (post Jan 2015), & loans to companies, trusts or families, & to gifts in excess of the gifting threshold). The […]

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Changes to the DAP interest rate 1/7/2016

Aged Care Advice | 21st July 2016

The interest rate charged on the DAP (Daily Accommodation Payment) is usually updated on the 1st January, & the 1st July each year, but the new rate only applies to those people who enter care permanently after these dates, & who have elected to pay their Accommodation Payment in part or in full as a […]

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March 2016 Indexation to Centrelink and DVA Pensions

Aged Care Advice | 29th April 2016

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $798.80pf $65.00 +$14.10 $873.90pf Couple $599.10pf $49.00 +$10.60 $658.70pf each $1,317pf combined Illness separated […]

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New Facilities

Aged Care Services Facilities | 29th April 2016

Greenwood Aged Care, on the same site as the old Greenwood Nursing Home in Hinemoa Road, has been completely rebuilt. I visited the site two weeks ago and it is stunning. Good sized rooms, plenty of areas for relaxing, being entertained or engaging in the numerous planned activities. Dawn Roodenys is the Operations Manager who […]

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