Summary: Before January 1 this year, the financial consequences for individuals deciding to sell their home to make a one-off accommodation payment before going into aged care were the same as for those choosing to keep their home and use the rent to pay for their costs. That’s changed, and keeping your home can have huge implications.
Key take-out: There are no hard and fast rules, and the best pathway will depend on each individual's circumstances, assets and income needs.
Key beneficiaries: Retirees. Category: Retirement.