This can benefit people who are:
- paying an ongoing means tested fee
- paying an accommodation contribution
- whose social security entitlements are reduced under either the assets or income test
- Amounts invested in a pre-paid funeral or burial plot are asset and income test exempt, regardless of the amount invested
Things to be aware of:
- Pre-paid funerals and burial plots are not financial investments. People should take care entering contracts and ensure adequate consumer protections are in place.
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Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.