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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Has the property market reached its peak; Biden’s climate summit and our share...

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Retirement

‘Challenging’ means test process receives $85m remedy

By Lucy Dean

July 09 2018
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Retirement

‘Challenging’ means test process receives $85m remedy

By Lucy Dean
July 09 2018

Acknowledging that a 28-page form can be “challenging”, the Turnbull government has pledged to simplify access to aged care and streamline means testing.

‘Challenging’ means test process receives $85m remedy

By Lucy Dean

July 09 2018
Share

Acknowledging that a 28-page form can be “challenging”, the Turnbull government has pledged to simplify access to aged care and streamline means testing.

The federal government will put $85 million towards simplifying the means testing and My Aged Care systems. Additionally, work has begun on an aged care provider comparison system on My Aged Care, with a price tag of $8.8 million.

“The current 28-page form can be challenging, so we plan to have major simplifications in place by May next year,” Human Services Minister Michael Keenan said.

“Led by the Department of Human Services, the taskforce will include representation from consumer groups, aged care providers, financial advisers and relevant government agencies.”

He said the simplification would be led by a taskforce, which would focus on a new means test form for those entering aged care and make recommendations on how the means testing process could be made more efficient, including for people with complex financial situations.

Together with Aged Care Minister Ken Wyatt, Mr Keenan said cutting red tape would help “hundreds of thousands” of senior Australians and their families each year.

Mr Wyatt also announced a $61.7 million revamp of the My Aged Care portal was set to begin.

“My Aged Care is a vital tool for older Australians and their families and carers, with more than 3.5 million website visits per year and over 1 million phone calls,” he said.

“It must be as easy to use as possible, providing people with the right information in a people-friendly format, during what are often challenging times.”

The upgrade will feature an enhanced service finder, more self-service options, a referrals system for health professionals and a “client journey dashboard”.

“This will allow doctors and specialists to send referrals to My Aged Care directly from their clinical information systems, and to track the progress of their clients through My Aged Care,” Mr Wyatt continued.

“Aged care access will also be streamlined, with $14.8 million to develop a new integrated assessment system for older Australians.”

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