Are you looking to reduce your assessable income to potentially decrease aged care fees and increase pension entitlements? The strategy paper is designed to help you understand the features and benefits of investing in an insurance bond through a discretionary trust.
If you answer yes to any of the following questions, this strategy paper maybe for you:
- are paying an income-tested fee for a subsidised home care package, or
- are paying a means-tested fee for residential aged care, or
- are paying an income-tested fee for residential aged care if they moved into care before 1 July 2014,
- receive an age pension under the income test, and
- don’t need access to the money invested or the investment earnings. (CS03)