Aged care financial advice

Welcome to Smart Private Wealth • Learning Centre • Insights

Aged Care Financial Advice.

Understanding how to navigate the complexities of arranging care for yourself or your loved ones when independent living is no longer an option can be a daunting task. To ensure your future is filled with care, security, and contentment, it's crucial to access the right information and advice.

Aged care financial advice involves addressing a range of complex and unique issues that necessitate careful consideration:

Home care

Providing an overview of Home Care Package subsidies from the Federal Government.
Clarifying the calculation of the basic daily fee and income-tested fees, which can affect the hours of care received and financial stability.
Presenting strategies to facilitate fee payments and manage cashflow.
Guidance on obtaining an ACAT assessment.

Residential care

Choices for covering the accommodation payment (room cost), including Refundable Accommodation Deposits (RAD), Daily Accommodation Payments (DAP), a combination of RAD and DAP, and using DAP from RAD.
Qualification criteria for low-means residents, leading to exemption from accommodation payment and receiving a subsidized accommodation contribution from the Federal Government.
Clarification of how the basic daily fee and means-tested fees are computed and their implications for Age Pension benefits and financial stability. Strategies for handling initial expenses and ongoing fees.
Considerations regarding the family home.

How does it work?

At Smart Private Wealth our dedicated Aged Care Advice team is here to help you navigate the complex aged care system while providing well-founded financial guidance.

We deliver comprehensive advice tailored to your individual situation by:

Demonstrating potential government subsidies for your aged care expenses
Evaluating various payment alternatives for your home-based or residential care
Offering in-depth cash flow projections factoring in applicable tax offsets and Centrelink exemptions
Predicting future asset values for your beneficiaries
Modeling the effects of concessions related to your home.

Live the life you imagine.

Planning in advance allows you and your family the time needed to make well-informed choices that will positively impact your future well-being.

SPEAK TO A FINANCIAL ADVISER SPEAK TO A FINANCIAL ADVISER

20 Nov

SMART Wins at Mornington Peninsula Shire Awards

SMART Business Solutions is proud to announce its recognition as the winner of Excellence in Local Community Connection (Medium–Large Business) and Excellence in Access and Inclusion at the 2025 Mornington Peninsula Business Excellence Awards.

READ MORE READ MORE

5 Nov

Shannon Smit Named Among Australia’s Top 50 Most Influential Financial Advisers

Smart Private Wealth is proud to announce that Founding Director, Shannon Smit, has been recognised in the 2025 FS Power50, Financial Standard’s annual list of the 50 most influential financial advisers in Australia.

READ MORE READ MORE

1 Oct

Is Your Financial Advisor Really Advising You?

Being a proactive financial advisor means looking beyond the numbers on a screen. It’s not about reacting to the market or chasing returns. It’s about anticipating opportunities and risks before they appear, and making strategic decisions that protect and grow your wealth across every stage of life.

READ MORE READ MORE

17 Sep

Smart Private Wealth Recognised Nationally for Community Leadership with Barry Lambert Award

Smart Private Wealth, part of the Smart Business Solutions Group, has been honoured as a recipient of the prestigious 2025 Barry Lambert Award, recognising exceptional community fundraising and volunteer work within the Count Financial network.

READ MORE READ MORE

17 Sep

Leading the Way in Tech-Driven Financial Advice

Shannon Smit, Founding Director of Smart Private Wealth, has been awarded the prestigious Excellence in Innovation award at the 2025 Count Financial Awards, recognising her ground-breaking leadership in transforming how financial advice and professional services are delivered in Australia.

READ MORE READ MORE

4 Sep

What an ageing population means for healthcare investors.

Thanks to improvements in living standards, medicine and technology, Australians are living longer than ever before – driving a demographic shift that investors can’t afford to ignore.

READ MORE READ MORE