SA457 Income and Assets Form

What Is the SA457 Form?

The SA457 Residential Aged Care Calculation of Your Cost of Care form is an official Services Australia form used by people who are moving into permanent Commonwealth-regulated residential aged care in Australia but who are not already receiving a Centrelink or Department of Veterans’ Affairs (DVA) pension or benefit.

This form helps Services Australia (Centrelink) assess how much you can afford to contribute to your aged care costs — specifically your Means Tested Care Fee and your Accommodation Payment.

It’s a crucial part of the means testing process and can make a big difference to the fees you pay and the subsidies you receive.

Centrelink SA457 Form Download

The SA457 Form (Cost of Residential Care) can be downloaded from:

    SA457 Form (Cost of Residential Care) Download.

Why Do I Need to Complete the SA457?

When you enter permanent residential aged care, the Australian Government wants to make sure that those who can afford to contribute more to their care do so, and that government funding is targeted fairly. That’s why everyone moving into care has to undergo means testing.

If you already receive a Centrelink or DVA pension, your income and asset details are often already on file — so you might not need to fill in this form. But if you don’t receive any of these payments, the SA457 is the main way to report your financial situation.

Completing the SA457:

• Ensures your Means Tested Care Fee is calculated correctly — so you don’t pay too much or too little.
• Helps determine whether you’re eligible for government assistance with your accommodation costs.
• May also affect your eligibility for an Age Pension if you apply in the future.

Without this form, the default position is that you’re treated as a fully self-funded resident and could end up paying the maximum fees — so it’s well worth getting it done properly.

Who Should Use the SA457?

You should complete the SA457 if you:

• Are moving permanently into a Commonwealth-regulated residential aged care home.
• Do NOT currently receive a Centrelink or DVA pension or income support payment.
• Want Services Australia to complete a means test so you can be assessed for possible subsidies.

It doesn’t matter how wealthy you are — it’s still a good idea to complete it so you can get an accurate fee assessment and protect your rights to any assistance you might qualify for.

What Information Does the SA457 Collect?

The SA457 collects detailed information about your income and assets, including:

1. Your Income

This includes things like:

• Employment income (if you still work).
• Superannuation or private pensions.
• Dividends, interest or rental income from investments.
• Distributions from trusts or private companies.
• Foreign pensions or overseas income.

Even if you don’t think you have any income, you must declare your sources honestly — and remember that “deeming rules” may apply to your financial investments (more on this below).

2. Your Assets

This includes both financial and non-financial assets:

• Cash, term deposits, shares, managed funds or bonds.
• Real estate — your home, rental properties, holiday houses or farmland.
• Superannuation balances if you’re under Age Pension age.
• Personal assets like vehicles, caravans, boats, or collections.
• Business assets if you’re self-employed or have an interest in a business.

For residential aged care means testing, the family home is treated differently from other assets — if you have a spouse or a “protected person” living there, it may be exempt or capped in value.

Supporting Documents You May Need

To complete your SA457, you may be asked for supporting documents such as:

• Recent bank statements for all accounts.
• Statements for shares, managed funds and investments.
• Property valuations or council rate notices for real estate.
• Mortgage statements if you have debts secured against property.
• Details of any trusts, companies, or private arrangements.

Providing these upfront will help Centrelink process your assessment faster and avoid delays in your fee calculation.

How Does the SA457 Affect My Fees?

Once you submit the SA457, Services Australia uses the information to calculate:

• Your Basic Daily Care Fee — everyone pays this, and it’s set at 85% of the single Age Pension.
• Your Means Tested Care Fee — based on your income and assets above certain thresholds.
• Your eligibility for government assistance with your Accommodation Payment (Refundable Accommodation Deposit or Daily Accommodation Payment).

If you don’t complete the SA457, you’ll likely pay the full costs as if you were a fully self-funded resident — which can be very expensive.

What About Deeming Rules?

When you declare your financial assets like bank accounts and shares, Centrelink uses “deeming” rules to work out your income from these assets. Deeming assumes you earn a standard rate of return, regardless of what you actually earn.

This can affect your Means Tested Care Fee — so it’s important to provide accurate information and understand how your investments will be treated.

SA457 vs. SA485: What’s the Difference?

The SA457 is a broad form for all income and assets. The SA485 is a separate form used to provide additional details specifically about real estate, such as your home or farm.

If you own property, you may be asked to complete both. The SA457 covers your total financial situation, while the SA485 dives deeper into property details like who lives there and whether any exemptions apply.

How to Fill Out the SA457

Here’s how to get started:

• Download the form: Visit the Services Australia ( SA 457 ) or ask your aged care provider to help you get a copy.
• Read the instructions: The form can be detailed and time-consuming. Read each section carefully.
• Gather documents: Collect all your bank statements, investment records, valuations, and any other required paperwork.
• Complete each section: Take your time and ensure your answers are honest and complete. If you leave sections blank or provide incorrect info, it could delay your means testing.
• Submit: Lodge your completed form with all supporting documents to Centrelink via mail or in person. Keep a copy for your records and share with your family or representative.

Common Mistakes to Avoid

Here are some common pitfalls:

• Forgetting to declare joint bank accounts or shared assets.
• Failing to disclose overseas income or assets.
• Underestimating the value of vehicles or collectibles.
• Providing old or incomplete statements.

If Centrelink finds errors, it may delay your assessment or result in you paying the wrong amount.

What Happens After You Submit It?

Services Australia will:

• Assess your income and assets using the details provided.
• Apply the means test thresholds and caps.
• Calculate your Means Tested Care Fee and your Accommodation Payment requirements.
• Send you a Fee Advice Letter showing how much you’re expected to pay and how much the government will subsidise.

It’s important to keep this letter for your records and share it with your aged care facility — they’ll use it to finalise your payment arrangements.

Can You Update Your Details Later?

Yes — if your financial situation changes (for example, you sell a property, close an account, or your investments grow), you should update Centrelink so your means tested fees remain accurate. You may be required to complete another SA457 or provide updated documents.

Where to Get Help

If you’re unsure about how to complete the SA457:

• Contact the Centrelink Financial Information Service (FIS) on 132 300 for free help.
• Speak with your aged care provider’s admission or accounts team — they’re experienced in helping families with these forms.
• Consider speaking to an independent aged care financial adviser, especially if you have complex assets like family trusts, companies, or overseas property.

Final Thoughts

The SA457 Residential Aged Care Income and Assets form is a key part of the means testing process for anyone moving into permanent aged care who does not already receive a Centrelink pension. Completing it thoroughly and accurately protects you from paying more than you should and ensures you access the right government subsidies.

Take your time, gather your documents, ask questions, and get advice if you need it. This will help you or your family feel confident about your financial arrangements and your rights as you settle into residential care.