Under Victorian law residents who bought in to a village before August 2006 and had a deferred payment contract could have to wait up to 8 years for a payout of the sale vale value of their ILU. The result is some residents and their families having to wait that time for $100,000 and more. Stockland has announced that people who leave their villages after 1 May this year will no longer have to endure the 8 year clause, which it inherited when it bought the ARC group. Those people who are already caught in the system however appear to have to continue the wait.
Government Policy
The three aged care bombshells from Senate Estimates
Last week’s Senate Estimates hearing – held just three weeks before sweeping reforms roll out – gave politicians the chance to ask Government heavyweights the questions they’re getting from constituents and to interrogate the once-in-a-generation changes.
