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Refundable Accommodation Deposit (RAD)

If you choose to pay an amount as a lump sum, the balance is refunded when you leave the aged care home. Any amounts that you have drawn down from the lump sum to pay other aged care costs will not be refunded.

Paying a lump sum will reduce your Daily Accommodation Payment.

Daily accommodation payment (DAP)

How does the calculation work?

EXAMPLE 1

If your room price is $500,000, your DAP will be worked out as follows:

Room Price × MPIR* / 365 Days
$500,000 × 6.31% / 365 Days
$86.44 per day

EXAMPLE 2

Lump Sum Paid (RAC)

Room Price − RAC Paid × (MPIR) / 365
$500,000 − $200,000 × (6.31%) / 365
= ($300,000 × 6.31%) / 365
= $51.86

Note: The MPIR used in this example (6.31%) is current as at 1 October 2022.