This note is not part of the regulations, but is intended to indicate their general effect.
These regulations amend the Social Security (Long-term Residential Care) Regulations 2005 and Schedule 27 of the Social Security Act 1964. The amendments increase certain monetary amounts applicable to persons who are residents assessed as requiring care and to whom Part 4 of the Social Security Act 1964 applies.
Regulation 3 increases from $218.64 to $225.55 the yearly clothing allowance payable to certain residents assessed as requiring care specified in section 154 of the Social Security Act 1964. This increase comes into force on 1 April 2006.
Regulation 4 increases from $30.87 per week to $31.85 per week the personal allowance defined in Part 3 of Schedule 27 of the Social Security Act 1964. The personal allowance is an amount of income that a person assessed as requiring care is not required to contribute to the cost of his or her contracted care services. This increase comes into force on 1 April 2006.
Regulation 5 amends the definition of the income-from-assets exemption in Part 3 of Schedule 27 of the Social Security Act 1964. In accordance with Part 3 of Schedule 27, a certain amount of a person's annual income that is derived from assets (the income-from-assets exemption) is not included in the calculation of the person's overall annual income for the purpose of the means assessment relating to income. The amount of the income-from-assets exemption is increased from $780 to $805. This increase comes into force on 1 July 2006.