When you enter care, you will need to choose how to pay for your cost of accommodation either via a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP) or combination of both. The DAP is calculated from the RAD amount at a government prescribed interest rate (MPIR).
For example: A single room with an ensuite with a Refundable Accommodation Payment (RAD) of $400,000: Daily Accommodation Payment (DAP) = $400,000 x MPIR %/ 365 A resident can elect to pay a combination of RAD and DAP to suit their financial circumstances. Please refer to Eldercare’s online pricing calculator, found on each aged care home's page, which can calculate the RAD/DAP combinations for you.