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Decisions around aged care are always difficult and emotional. From the start of next year they are likely to get even more complex, with both the Age Pension and aged care sectors set for another shake-up.

Currently, many people entering aged care choose to keep their former home and rent it out to help supplement their accommodation payments. From a financial planning perspective this strategy is attractive, as your former home and any rental income are exempt from assessment for the Age Pension. But from 1 January 2017 this will all change.

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