ACSA has analysed the Commonwealth Own Purpose Outlay methodology (COPO) which is supposed to increase payment for care services with CPI. However since 1997 COPO has delivered a total increase of 27.32% while CPI has increased by 37.48%. ACSA argues that aged care costs are rising faster than CPI, which with wages being 70%+ of care costs, is a fact as operators struggle to attract and retain quality staff.
Stockland in February reported a half year loss of $726.9 million for the six months to December 31, reflecting downward revaluations of its investment properties and movements in non-cash items.
Operating net profit fell 60.6 per cent to $127.9 million for the first half.
