From 1 July 2014, a Refundable Accommodation Deposit (RAD) applies to all residential aged care places as legislated in the Commonwealth's Living Longer Living Better program. The maximum RAD for all room types at Imlay House is $375,000.
Residents can choose to pay for their accommodation by a refundable deposit, a daily payment (DAP), or a combination of both. A refundable deposit is paid as a lump sum. A daily payment accrues daily and is paid monthly. A DAP is calculated on the basis of the interest rate determined by the Commonwealth and reviewed quarterly. The current interest rate is 4.98% pa.
A combination payment includes both a partial lump sum and daily payments:
Single Room Shared Ensuite