Government mulling superannuation as part of aged care solution
0#Governmentmulling #superannuationpart #agedsolution
The federal government is considering using the $ 3.5 trillion pension system as a way out of Australia's elderly care financing crisis. On Thursday, Assistant Treasurer Stephen Jones called for a national speech on drawing on retirement balances, which were envisaged to be transferred to one -third as a legacy in middle of century. Deputy Treasurer Stephen Jones said that having a real estate planning mechanism preferred by tax is not the purpose of retirement. The sources close government, who want remain anonymously be able speak freely, said that is a part solution, as it has become one fastest growing areas $ 30 billion, is a part solution. Only for next decade, the independent parliamentary budget office estimates that cost of elderly care will increase more than 82 percent or almost 29 billion dollars to $ 63.6 billion in 2033-34. Only AGE PERSONAL SAFE, NDIs and Defense expenditures are more in the budgetIt will be a big impost.