National Audit Office targets inadequate controls of care bonds

Sep 24 2009 Updated July 4, 2023

The Weekly Source

1 min read

The Audit Office has released a report that criticises the lack of controls on the money paid to care operators in the form of bonds which total $8 billion lodged by residents, and growing by 25% each year (or $2 billion p.a.). The average bond is now $190,000. The Government guarantees bonds and has had to pay out $19 million since 2006, thanks to the collapse of three aged care facilities. The Minister for Ageing, Justine Elliot, will be responsible fro responding to the Audit Report.

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