Budget
All of us have been noticing how much inflation is impacting our lives. Whether it be mortgage or rent payments, fuel, electricity, or groceries, we are all paying more for pretty much everything. Aged care is no exception, with another aged care fee increase coming. Basic Daily Fees in aged care are reviewed by the […]
Read MoreTreasurer, Dr Jim Chalmers delivered his first budget on 25 October 2022. For the most part, economists have praised it as being conservative and sensible. Aged Care is one of the “winners”. $3.9 billion will be allocated to the aged care sector. Many of the items to be funded have already been flagged by the […]
Read MoreShould you downsize your family home if aged care is on the horizon? As we approach the election the Coalition has announced that it is extending the category of people who can downsize their family homes and receive tax concessions if they put up to $300,000 of the surplus into superannuation. The rule exists at […]
Read MorePeople occasionally approach me for advice about acquiring a unit in a retirement village. More often though, I have to consider the documentation they have signed as they wish to dispose of the unit in order to fund their move into permanent residential care. Many people have very positive experiences of life in the retirement […]
Read MoreOn 1 March 2021 the report of the findings and recommendations of the Royal Commission into Aged Care Quality and Safety was tabled in Parliament. It proposed that a new Aged Care Act should come into effect by no later than July 2023 to give effect to the recommendations. In total, 148 recommendations were made. […]
Read MoreIt’s easy to see why most people believe that the aged care sector was the big winner in this year’s budget delivered by Federal Treasurer Josh Frydenberg on 11 May 2021. After all, it promises nearly $18 billion in additional funding over the next five years. The need for increased funding has been apparent for […]
Read More