Aged Care and Other Legislation Amendment Act 2025 (45 of 2025)

Schedule 1 Amendment of the Aged Care Act 2024

Repeal the subsection, substitute:

Rate of retention

(2) A retention amount is to be calculated at a rate of 2 per cent per annum:

(a) on a daily basis; and

(b) applied to the refundable deposit balance each day.