26-05-2025
Elderly Australians to pay more for aged care homes under Labor's new tax law
Clarity Aged Care Advisors Principal Michael Horin discusses the implications of Labor's proposed tax on unrealised capital gains for self-funded retirees.
From July 1, many self-funded retirees will pay more for aged care, between $20,000 and $50,000, depending on their accommodation.
'The premise is that aged care in Australia is not a profitable industry,' Mr Horin told Sky News Business Editor Ross Greenwood.
'The government wants aged care to become more profitable to encourage more investment in the sector to match the growing demand of the aging population that we have.'
