On a positive Budget note, Mary Wood, Executive Director of the Retirement Living Council, says Retirement village operators will no longer be subject to double taxation if ownership of a village changes because of a company acquisition. This is a win for the Retirement Living Council and a fair and just outcome for our sector.
However the dumping the Housing Help for Seniors program, just before it was due to begin, will have adverse effects for senior Australians who want to move to a smaller house.
She says the Government should support innovative schemes that allow wealth in family homes to be unlocked by downsizing without being financially penalised.
