Accommodation charge - an ongoing fee for accommodation in a high care aged care home.

Accommodation bond - a lump sum paid for accommodation in a low care or an extra service aged care home.

Accommodation bond agreement - an agreement between the resident and the Aged Care Home that outlines the amount of bond and how it will be paid.

Accreditation - minimum building and care standards that homes must meet in order to receive funding from the government.

ACH - Aged Care Home - high care or low care residential home. Funded by the Commonwealth Department of Health and Ageing, governed by the Aged Care Act 1997.

ACAT - Aged Care Assessment Team; a team of health professionals who assesses a person for the level of care they may require in order to receive in-home or residential care.

Aged Care Assessment - an assessment by the ACAT determining the level of care required for the resident.

Ageing in place - high and low levels of care provided in one aged care home. Generally, residents of these homes do not need to move to another home if their care needs increase.

Agreement - a document signed by the resident and by the aged care home relating to the to be careand services provided.

Approved provider - the operator of a home, must be approved by the government and their homes must be accredited in order to receive funding.

Assets - the value of investments and possessions on which a bond or charge is negotiated.

Basic daily care fee - a daily fee for care, equivalent to 84% of the aged pension.

CACP - Community Aged Care Package, services equivalent to hostel level care provided in the home.

Supported resident - a person needing residential care who will pay only the basic daily care fee due to financial constraints.

Daily care fees - daily fees for care; comprised of basic daily care fee and income

tested fees.

DoHA - The Commonwealth Department of Health and Ageing which oversees all aged care homes in Australia.

Drawdown figure - a sum of money that the home may take from a bond for 5 years towards upkeep of the home; also called a "retention figure".

EACH - Extended Aged Care in the Home, services equivalent to nursing home level care provided in the home.

Extra service home - a nursing home and hostel that provides a higher level of accommodation and services. There are higher costs associated with the extra services.

FISO - Financial Information Service Officer, employed by Centrelink, may be consulted for information about the financial aspects of aged care.

High level care - nursing home level care.

Income assessment - procedure for collecting information on income.

Income tested fees - component of the daily care fee assessed on a person's income.

Low level care - hostel level care.

Periodic payment - a method by which the accommodation bond can be paid.

Residential care - High level care (nursing homes) low level care (hostels)

Residents' Rights - the rights of residents as defined in the Aged Care Principles. For example: "Each resident of an aged care service has the right to maintain control over, and continue making decisions about, the personal aspects of his or her daily life, financial affairs and possessions.

Retirement Village - a retirement village is a residential complex usually occupied by persons over age 55. It is not the same as an Aged Care home as the units are self-care or serviced apartments and are funded by the residents themselves - there is no government subsidy. Residents enter into a contract with the operator. Retirement villages are governed by the NSW Retirement Villages Act 1999.