Document ID: chunk:federal_register_of_legislation:C2016C00170:clause:3_149:p11
Version: federal_register_of_legislation:C2016C00170
Segment Type: clause
Provision Reference: sch 3 cl 149 (pt 11/18)
Character Range: 140016–142772

provider must not accept payment of an amount of *refundable deposit from a person if:
 (a) the person provides sufficient information to allow the person's *means tested amount to be worked out; and
 (b) the person pays, or commits to paying, the amount within 28 days after entering the service; and
 (c) payment of the amount would leave the value of the person's remaining assets at less than the *minimum permissible asset value.
 (2) The minimum permissible asset value is:
 (a) the amount obtained by rounding to the nearest $500.00 (rounding $250.00 upwards) the amount equal to 2.25 times the *basic age pension amount at the time the person *enters the residential care service or flexible care service; or
 (b) such higher amount as is specified in, or worked out in accordance with, the Fees and Payments Principles.
 (3) The value of a person's assets is to be worked out:
 (a) in the same way as it would be worked out under section 44‑26A for the purposes of section 44‑22; but
 (b) disregarding subsection 44‑26A(7).

52J‑6  Approved provider may retain income derived
  An approved provider may retain income derived from a *refundable deposit.

52J‑7  Amounts to be deducted from refundable deposits
 (1) An approved provider must deduct a *daily payment from a *refundable deposit paid by a person if:
 (a) the person has requested the deduction in writing; and
 (b) the daily payment is payable by the person.
 (2) An approved provider may deduct the following from a *refundable deposit paid by a person:
 (a) the amounts specified in the Fees and Payments Principles that may be deducted when the person leaves the service;
 (b) any amounts that the person has agreed in writing may be deducted;
 (c) such other amounts (if any) as are specified in the Fees and Payments Principles.
 (3) The approved provider must not deduct any other amount from a *refundable deposit.

Division 52K—Financial hardship

52K‑1  Determining cases of financial hardship
 (1) The Secretary may, in accordance with the Fees and Payments Principles, determine that a person must not be charged an *accommodation payment or *accommodation contribution more than the amount specified in the determination because payment of more than that amount would cause the person financial hardship.
Note: Refusals to make determinations are reviewable under Part 6.1.
 (2) In deciding whether to make a determination under this section, and in determining the specified amount, the Secretary must have regard to the matters (if any) specified in the Fees and Payments Principles. The specified amount may be nil.
 (3) The determination ceases to be in force at the end of a specified period or on the occurrence of a specified event, if the determination so provides.