The current system is complex and inequitable, and those most affected by aged care anomalies are often least able to understand the consequences.
Tag Archives | aged care
Retirement is not a steady state of more time for holidays and family. Planning must allow for the onset of part-disability and disability, and costs can rise significantly in the final ‘frailty’ years.
Aged care measures announced in the Budget go only part of the way to improving the system. With a waiting list for Home Care packages exceeding 100,000, we need more effective change.
Home Care Packages have undergone significant reforms recently, and the waiting list for such packages is growing. Advisers and their clients need to keep abreast of what those changes mean for them.
Aged care is a specialist subject, but financial advisers need to have strategies for their clients before it is left to a family member to step in with different views on affordability and what standard of care is needed.
Accurium’s facts and figures guide compiles current rates and schedules for tax, superannuation, retirement, social security and aged care, updated to 1 January 2018.
Alex Denham’s article on her father’s aged care experiences was the most popular in the newsletter last week, and we reproduce three personal comments which expand on Alex’s themes.
No amount of experience as an adviser specialising in aged care prepared Alex for the actual events her father faced inside an aged care facility. It might be about care, but it’s a profit-making business.
Changes to Home Care Packages effective 27 February 2017 allow care recipients to choose their own care providers and offer better portability when relocating.
Retirement planning is more than superannuation. No use having lots of money if health is poor, and eventually, most of us will face the need for aged care. And don’t ignore home equity release when cash is needed.
The seniors accommodation sector offers opportunities for investors willing to take a long-term approach, as the population ages and demands a wide range of different types of facilities.
Residential aged care costs are difficult to understand at any time, but many aged care facilities are introducing new fees which make comparisons even more difficult as cost rise.
From 1 January 2016, the aged care means test changed to include the value of any rental income received on the former family home. This and other proposed changes will affect aged care users differently.
Many children have more money than their parents ever had, but when providing financial assistance, consider all possible scenarios and document intentions to avoid pain if relationships deteriorate.
Australian businesses are in a unique position to assist with China’s growing need for healthcare and aged care facilities as the country faces rising chronic illnesses and a rapidly ageing population.
We often hear of parents providing financial assistance to their adult children, whether its buying a house, paying for education or gifting a car. But what tax-effective options are available when the situation is reversed?