Amanda Hardy Lai, Author at Retirement Essentials

New Aged Care changes: Staying at home under the new system

by Amanda Hardy Lai | Planning for Retirement

Big changes are coming to Australia’s aged care system on 1 November 2025, especially for those of us who want to stay in our own homes as we get older. These updates aim to make care safer, more respectful, and better tailored to individual needs, following the recommendations of the Royal Commission into Aged Care Quality and Safety.

If you’re like most older Australians who prefer to live independently at home, it’s important to understand what these new changes – now known as the ‘Support at Home’ program will mean for you.

Originally planned for 1 July 2025, the program has been delayed to 1 November 2025. It’s a major investment in home care, expected to help around 1.4 million Australians by 2035 as outlined by the Department of Health and Aged Care. The program focuses on three key areas:

Medical care – fully covered by the government.

Support for independence – helping you stay active and engaged.

Everyday living tasks – assistance with things such as meals, cleaning, shopping, cooking or everyday household chores.

Do you need to tell Centrelink about a gift?

by Amanda Hardy Lai | Centrelink Age Pension

When we shared an update article on gifting rules it sparked plenty of follow up questions from our members. Retirement Essentials Head of Customer Service and Centrelink guru, Steven Sadler, was instrumental in addressing these queries. And, being the guru he is, he provided an easy way to check your gifts. We thought Steven’s insights were well worth sharing.

A quick two-question check

Before you gift money, or if you’re worried about past gifts, ask yourself:

Have I made gifts this year of more than $10,000?
Centrelink has a limit of $10,000 per financial year. If any gifts you’ve made in either the current financial year or any of the previous four went over this amount, the extra money will be counted as a ‘deprived asset’ for five years.

What’s my total gift amount over the last five years?
The second limit is a total of $30,000. This includes all gifts you’ve made in the current financial year and the four years before it. If this total exceeds $30,000, then the amount over this limit will be counted as a ‘deprived asset’ for five years.

Note: There is no double counting of deprived assets between the annual and five year rolling periods.

For example: If total gifts over five years sum to $37,000, and $2,000 has already been assessed as deprived assets from previous annual limits, then only the remaining $5,000 that exceeds the $30,000 limit ($37,000 – $30,000 – $2,000) would be assessed as a new deprived asset under the five-year rule.

Smart ways to manage super: 5 step-plan to boost your balance

by Amanda Hardy Lai | Superannuation

Mark, 65, and Sophie, 63, are both looking forward to retiring in two years. Mark, a long-time chef, and Sophie, a retail assistant, realise that their super balances are modest, reflecting part-time shifts, casual work and caring responsibilities. They would like to ensue that they have explored every possible option to maximise their future income. Here’s how Retirement Essentials advisers helped step them through the choices they have.

Start with a clear picture

Mark had $140,000 in super and Sophie had $65,000. They owned their home outright but were mindful that ongoing living costs, occasional travel, and possible health expenses could stretch their savings.

They were also unsure how the Age Pension would work, especially since Sophie was younger and still working. That age gap created some opportunities.