If you are aged 65 or over and need financial help to pay for long-term care in a rest home or hospital, you might qualify for a Residential Care Subsidy.
For many retirees, their home isn't just somewhere to live. It's also their biggest, or only, asset.
Glossary: asset
An asset is a useful or valuable person or thing. In financial terms it's an item that can be converted into cash such as bank deposits, shares or property.
There are several government-provided benefits that can be reduced if you have other "income". The main benefits that could apply to a retiree include:
