Document ID: chunk:federal_register_of_legislation:F2025C00076:reg:97
Version: federal_register_of_legislation:F2025C00076
Segment Type: reg
Provision Reference: reg 97
Character Range: 120277–121816

97  Maximum retention amount
 (1) The maximum retention amount that may be deducted, from the care recipient's accommodation bond balance, during a year (the first year) beginning on the day, or a year (a later year) beginning on the anniversary of the day, when the care recipient enters the residential care service or flexible care service is:
 (a) if the accommodation bond is not more than X—10% of X; or
 (b) if the accommodation bond is more than X but not more than Y—10% of the accommodation bond; or
 (c) if the accommodation bond is more than Y—10% of Y.
 (2) However, despite subsections (3) and (4), the maximum retention amount for the care recipient for a later year is the same as the maximum retention amount for the first year.
 (3) In subsection (1):
X is:
 (a) for a year beginning in the financial year beginning on 1 July 1997—$13 500; or
 (b) for a year beginning in a later financial year—the amount published under subsection (4) for the financial year.
Y is:
 (a) for a year beginning in the financial year beginning on 1 July 1997—$26 000; or
 (b) for a year beginning in a later financial year—the amount published under subsection (4) for the financial year.
 (4) Before, or as soon as practicable after, the beginning of each later financial year, the Secretary must publish on the Department's website the amounts of X and Y for the financial year, worked out in accordance with section 98.
 (5) The maximum monthly retention amount is the amount worked out in accordance with subsection (1) divided by 12.