New Aged Care Act
While headlines overseas focused on Prince Andrew being ousted from his royal residence, back home in Australia, a far more significant change quietly took effect on 1 November: the start of the new Aged Care Act and its sweeping fee reforms.
These changes will reshape how Australians pay for aged care—both in-home support and residential care—and they will have a significant impact on retirees, families, and anyone planning for later life.
KJB Law and Phillips Wealth Partners are hosting an educational seminar on 12 November at the Hellenic Club, Canberra, to help you understand these changes.
What’s Changing?
Under the new system, the government will continue to cover health-related costs, but those with financial means will pay more for non-clinical services such as meals, cleaning, and personal care.
- In-home care now has eight levels of support (up from four), with government funding capped at $78,000 per year.
- Self-funded retirees could pay up to 50% for independence supports and 80% for everyday living costs.
- Residential care fees are increasing, with providers allowed to retain 2% of deposits annually for five years.
- A new lifetime cap of $130,000 applies to non-clinical care costs, up from $80,000.
The government expects these changes to save $12.6 billion over 11 years, but for individuals, the question is clear: What will you pay for your aged care?
Download these useful resources: https://www.myagedcare.gov.au/resources
Why This Matters
Craig Phillips, Senior Financial Adviser, explains:
“These reforms fundamentally change the financial landscape for aged care. If you’re a self-funded retiree or even a part-pensioner, your out-of-pocket costs could rise significantly. Planning ahead is no longer optional—it’s essential.”
Join Us
To help you navigate these changes, we’re hosting an exclusive seminar:
Date: Wednesday, 12 November 2025
Venue: Hellenic Club, Canberra
Time: 10am to 12:30 pm
Registrations are essential. Register here: Eventbrite Link to register online
Call Chloe McPherson 02 6281 0999 or Email: chloe@kjblaw.com.au
Topics Covered:
- New aged care fee structures explained
- Legal essentials for protecting your assets
- Financial strategies to manage rising costs
- Real-life case studies and Q&A
