Document ID: chunk:federal_register_of_legislation:F2024C00838:reg:31
Version: federal_register_of_legislation:F2024C00838
Segment Type: reg
Provision Reference: reg 31
Character Range: 52097–53555

31  Equivalence between care recipient's daily accommodation contribution amount and refundable accommodation contribution amount
 (1) The approved provider of a residential care service must ensure that there is equivalence between:
 (a) a care recipient's daily accommodation contribution amount; and
 (b) the maximum refundable accommodation contribution amount that the care recipient may be charged;
on a day (the relevant day) for the service.
 (2) For the purpose of complying with subsection (1), the maximum refundable accommodation contribution amount that the approved provider could charge the care recipient on the relevant day for the service must be the amount worked out as follows:

      Maximum refundable accommodation contribution amount calculator
           Step 1. Work out the maximum daily accommodation contribution amount for the care recipient for the relevant day.
                  Note: Section 52G‑6 of the Act sets out rules about the amount of accommodation contribution that a person may be charged for a day.
           Step 2. Multiply the amount worked out at step 1 by 365.
           Step 3. Divide the amount worked out at step 2 by the maximum permissible interest rate for the care recipient's entry day using the calculator in section 6.
      The result is the maximum refundable accommodation contribution amount that the approved provider could charge the care recipient on the relevant day for the service.