Perspective Advice in Perth, Western Australia | Financial planner

Perspective Advice

Locality: Perth, Western Australia

Phone: +61 8 9316 2250

Address: Suite 1, 137 Burswood Road 6100 Perth, WA, Australia

Website: http://www.perspectiveadvice.com.au

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22.01.2022 Aged Care Thought of the day (31/10/2018) Scenario - Prior to moving into an aged care facility, do you have to sell your family home? Answer No. You do not have to sell your family home. However, each case would need to be looked at on its own merits. Depending on your personal circumstances, you could rent the family home, sell it or keep it. When one of the options is chosen, what impact will it have on age pension? The results will vary and will depend on ones finan...cial situation. Stay tuned for more!!

21.01.2022 Aged Care 03 April 2019 Budget 2019-2020 In this Budget, the Government is committing funding of $21.6 billion in 2019-2020 to strengthen the safety, quality, ...access to, and integrity of Australias aged care system. The Government is providing $282.4 million over five years from 2018-2019 for an additional 10,000 home care packages across all levels. Australians with dementia or requiring cognition support will benefit from additional funding for home care supplements, and the Government is investing $7.7 million to develop an end to end compliance framework for home care. The Government is also providing additional funding for residential aged care. An additional 13,500 residential care places will be available, combined with a $60 million investment in infrastructure. Under its Medical Research Future Fund, the Government is providing $185 million (from 2018-2019 to 2028-2029) to establish a Dementia, Ageing and Aged Care Mission. Stay tuned for more!

17.01.2022 Aged Care 11/12/2018 Here are some of the most commonly asked questions/concerns regarding aged care. Does it affect my/our age pension?... What are the tax implications? Passing on inheritance (estate planning) Costs involved in various facilities Do we have to sell our family home? What are the steps involved for entry to aged care? The answers will vary depending on particular circumstances Stay tuned for more!

15.01.2022 Aged Care Thought of the day (15/08/2018) It is well known that Australian population is changing rapidly. The change is due to longer life expectancy and an ...on-going trend in low fertility rates. According to Australian Bureau of Statistics, one quarter of all Australians will be 65 years or older by 2056. Further, the population of Australians aged 85 years and older will increase to 4.9% of total population in 2056 compared to 1.6% in 2007. Given that the use of aged care services significantly increases for people over age 80, these demographic shifts will drive a major increase in the demand for aged care services. It is also expected to put pressure on government funding and lead to greater levels of regulation and user pays for residential aged care. STAY TUNED FOR MORE! See more

14.01.2022 Aged Care 13/03/2019 Grant to support improved food experiences in Aged Care Maggie Beer Foundation (MBF) recently received a $500,000 Australian Government grant to fund a new training programme for Aged Care cooks and chefs across the country the first of its kind in Australia... Maggie Beer Foundation was launched in 2014 to improve the food experiences for older Australians in nursing homes. This initiative is helping bring life-altering change to so many older Australians. The first year of the online programme consists of 11 training modules including High Energy and Protein, Textured modification and The Dining Environment are designed to improve the taste and nutritional content of meals made for those over the age of 70. Stay tuned for more!

13.01.2022 Aged Care 14 May 2019 Question What is an Advanced Care Derivative? Answer An Advance Care Derivative is an essential part of healthcare. There are moments when a patient is unable to communicate and they could be admitted to an accident and emergency department, unconscious or in a coma, adding a whole new dimension of challenges to their treatment.... An Advance Care Derivative is a legally binding document that empowers you to make clear arrangements for your future health care and end of life matters. It contains information and situations where you may or may not want medical treatment, including a patients care preferences and what actions to take when they are unable to communicate. A derivative also includes details of appointment where you can name someone else to make decisions about your medical care. This document only applies sot healthcare decisions and wont affect any financial matters. Stay tuned for more!

12.01.2022 Aged Care Thought of the day (09/01/2019) Question - Is short term care available? Answer Suppose you are caring for someone who lives in their own home and you occasionally need to take a break. It maybe for a few days or a few weeks to attend a wedding, go on a holiday or just generally take time out. In this case, the person you care for may need to have a short stay in an aged care home while you have a break. This is called residential respite care and can happen on ...a planned or emergency basis. Residential respite care is available in aged care homes approved for extra service places. Stay tuned for more!!

09.01.2022 Aged Care Thought of the day (26/09/2018) Today we will briefly go through the Home Care Packages. This is available so that one can remain at home for longer and provides choice and flexibility in the way that the care support is provided. Services may include personal or domestic assistance, food and nursing services, medication supervision, transport, home maintenance and mobility equipment. There are four levels of Home Care Packages, ranging from basic care nee...ds to high care needs. Services are based around individual needs, allowing you to decide on the type of cover you receive, how it is delivered, and who provides that care. As discussed in our previous article/blog, your health must be assessed for eligibility be ACAT (Aged Care Assessment Team) before you can avail yourself of this service. The Australian Government provides subsidies for home care services. However, the government funding does not always cover the entire cost of the services needed and, depending on your income, you may have to contribute towards to cost of your home services. The amount you contribute is on a means tested basis. Always discuss with your provider the financial aspects of your home care service before you receive the relevant service. STAY TUNED FOR MORE!!

07.01.2022 Aged Care Thought of the day (30/10/2019) Question What is the progress for Aged Care Royal Commission Answer Aged Care Royal Commission has released more research and background papers.... Research undertaken by the Australian Health Services Research Institute at the University of Wollongong found that over half of Australians in aged care homes had staffing levels that would be given a one or two-star rating in Americas five-star rating system. The aim of this report provided to Commission was to analyse the current staffing levels of aged care homes compared to standards in other countries. The study found that 27 percent of Australian aged care residents are in three-star homes, 14.1 percent are in four-star nursing homes and only 1.3 percent are in aged care homes considered as five-star. Stay tuned for more!

06.01.2022 Aged Care 31/01/2019 5,000 more seniors to benefit from short term care The number of senior Australians receiving short-term restorative care each year will almost triple on back of the Governments $58 million annual funding boost, announced today.... The Government will allocate 775 new short-term restorative care places, which will help 8,125 Australians up from 3,088 continue living independently, heathy lives on their own. Providing a range of care and services for up to eight weeks, short-term restorative care aims to improve your ability to complete everyday tasks, or delay or avoid the need to enter long-term care. Stay tuned for more!

04.01.2022 Aged Care Thought of the day (28/08/2018) Aged care is a complex area requiring careful thought. The uncertainty surrounding where to move, how much it will c...ost and where the money is coming from can be overwhelming and stressful. There are typically three steps before moving in an aged care facility. Step 1 Approval Before entering an aged care facility, your health must be assessed for eligibility by ACAT (Aged Care Assessment Team). Step 2 Find a home You may like to visit a few different places. You can apply to as many homes as you like. The accommodation costs for all aged care facilities are published on Governments aged care website myagedcare.gov.au Step 3 Organise your finance On entering to a facility, you will be required to pay an accommodation contribution or accommodation payment. There will also be a basic daily fee to pay and there will be a means tested care fee which is determined by your level of income and assets. STAY TUNED FOR MORE!!