Australia is facing a changing demographic with an aging population which is resulting in more people in the aged care system and less in the workforce. The Royal commission into aged care quality and safety final report volume 1 identified that there were 4.2 working aged people for every Australian aged 65 and over, which is expected to decrease to 3.1 by 2058. The working population is already paying high taxes which contributes to funding upwards of $27 billion per year spent on aged care.
Aged Care Minister Anika Wells confirmed in a radio broadcast with ABC in July this month that the Aged Care task force is leaning towards a system where seniors that can afford to pay more for their care will be expected to do so, and she hinted that they’re considering a possible tax increase to get to assist with the aged care’s funding issues.
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We understand that it can be stressful trying to figure out how much money the care you need will cost. We’ve made it easy to figure out how much it will cost for even the most complicated of care plans.