Aged Care Act 2024 (Australia)
Conditions of registration: financial matters – Aged Care Act 2024 (Australia)

Aged Care Act 2024 (Australia) 150A: Section 150A: maintain a refundable deposit register

A residential care provider that receives or has received a refundable deposit, accommodation bond or entry contribution wholly or partly as a lump sum (Rules 150A-3) must establish and maintain a refundable deposit register, consistent with section 168, able to produce the prescribed information as a single itemised document and to feed information to the Commissioner. For each refundable deposit it records the individual, payment system number, entry date, each lump-sum payment and date, each authorised deduction with date, provision and reason, the month-end balance, refunds and their dates, any Pricing Authority approval number for above-maximum prices and any transfers; on refund it records the reason date (death with probate evidence, departure, change of care or of means-tested amount), the due date under section 311, the refund date and amount and interest at the base and maximum permissible rates. Equivalent entries are kept for accommodation bonds and entry contributions held since 1 July 2006 (Rules 150A-5 to 150A-35).

Maintained by Gerard Blokdyk

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