Aged Care Advice

Government support can help you access the care you need – whether you’re living in your own home or an aged care residence.

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The MiQ Difference

Grounded in expertise. Guided by collaboration.

Wealth creates choice – the choice to live your life the way you want. 

By combining a collaborative advice model with a holistic view of your finances, we help you build your ideal tomorrow. 

That’s why our team includes accredited specialists across fields like succession planning, insurance, SMSFs, aged care, and foreign investment. 

It’s why our advisers are fluent in multiple languages. 

And it’s why we take an asset-agnostic approach to investment – while still maintaining access to exclusive products like hybrid IPOs. 

Client Testimonial

“Rebecca has provided excellent financial advice to two generations of my family. Very knowledgable, a pleasure to deal with and always readily available to answer questions she is highly recommended 

John Davies

Our Aged Care Solutions

What We Do

Services Australia Payments

Access to the support you're entitled to

Navigating the costs of aged care can be difficult.

But accessing the right government support can make it easier – regardless of whether you’re getting help at home, receiving short-term care, or moving permanently into aged care.

Your MiQ adviser can guide you through the process of applying for benefits, maximising your existing payments, and improving your financial wellbeing.

Schedule an initial 30-minute consultation to find out more.

Home Equity Access Scheme

Supplement your retirement income

What happens if your partner needs aged care support and can’t afford it – but you want to keep living in your home? 

The federal government’s Home Equity Access Scheme means you could be eligible for a government loan based on your residence’s equity. 

With no fixed repayment periods and a no-negative-equity guarantee, the scheme can be a good way to pay for aged care-related costs – without using your savings. 

Schedule an initial consultation to find out if the scheme is the right option for you. 

End-of-Life Advice

Financial advice for end of life care

If you or a loved one are experiencing a life-limiting illness, managing your expenses is critical – and so is preparing for the future. 

MiQ can help guide you through the financial aspects of end-of-life care, such as paying for treatment, finalising your estate planning, and liaising with insurers. 

Book an initial 30-minute meeting online or in person to find out how we can help.  

Pass on your financial legacy.

Make sure your estate is distributed in the right way – and to the right people.

Your Aged Care Questions, Answered


Income assessments and means assessments are two types of government assessments that may be conducted if you are applying for a Home Care Package or moving into an aged care home. 

Income assessments evaluate how much income you receive, and whether you’ll need to pay for income-tested home care. Assessable income includes government payments, income from financial assets, income from businesses, and superannuation payments.   

Means assessments evaluate how much your financial assets are worth. Assessable assets include cash, shares and securities, investment properties, and superannuation. 

Most income and means assessments are conducted by Services Australia, but, if you’re a veteran, your assessment(s) might be conducted by the Department of Veterans’ Affairs instead. 

The income test is used by Services Australia to assess whether you’re eligible for the Age Pension. It assesses you and your partner’s income from all sources (but doesn’t include assets, which is a separate test). You can see how much Age Pension you could be eligible for using the below table, which is based on your fortnightly income. Keep in mind that you’ll also need to pass the assets test and residence rules. 
 You get the full pension if you earn less than You get a pension reduced by 50 cents for every dollar you earn over …    You’re not eligible for the pension if you earn more than 
If you are single $204 $204 $2,397.40 
If you are a couple living together (combined amount) $360 $360 $3,666.80 
If you are a couple living apart due to ill health (combined amount) $360 $360 $4,746.80 
   If you’re receiving a transitional rate of pension, the above figures may be different. 

The assets test is used by Services Australia to assess whether you’re eligible for the Age Pension. It assesses the combined value of every asset you and your partner own (but doesn’t include income, which is a separate test). 

You can find the cut-off limits for a full Age Pension, a part pension, and a transitional rate of pension here. If you’re not eligible for the pension because your assets are worth too much, you may be able to apply for asset hardship provisions or take advantage of the Home Equity Access Scheme.  

Yes, you can own an investment property and still receive the Age Pension, although you’ll need to pass both the income and assets tests. 

For example, if, as a part of a couple, you owned your own home and an investment property worth $700,000 (with the remainder of your assets totalling less than $303,000), and your only income was $650 a week in rent from your investment property, you and your partner could potentially receive a combined $1,041.40 per fortnight.    

Manage your aged care costs in the right way.

Book An Initial Consultation for Aged Care Advice.

Contact from 2024