“Retirement communities are the sleeping giant of Australia’s health and housing landscape given the benefits they provide to consumers and governments alike,” says the Retirement Living Council as it makes a submission to the Federal Government for inclusion in its FY25 Budget.
Retirement living operators are regulated by State and Territory governments but the Retirement Living Council seems hellbent on being part of Federal Government's thinking.
"It is no longer possible to consider the future of residential aged care without discussing the important housing and health value proposition of the retirement and seniors’ living industry,” Retirement Living Council (RLC) Executive Director Daniel Gannon said.
"This is a sector that currently provides purpose designed homes for 250,000 older Australians but is effectively operating at full capacity. There are various state and territory-based planning impediments contributing to delaying the onset of more supply – issues that are not the remit of the commonwealth.
The RLC's five key recommendations for inclusion in the FY25 Budget is:
- Include retirement communities as a key delivery component of achieving the Housing Australia Future Fund target to build 1.2 million new homes nationwide by 2029;
- Implement the RLC’s ‘Shared Care’ proposal – in the first instance through a pilot program – demonstrating that significant efficiencies and savings to consumers and government can be achieved through a strengthened Home Care delivery framework;
- Remove incoming purchase price benchmarks for Australians living in retirement communities to allow deeper access to Commonwealth Rental Assistance;
- Amend existing inconsistencies to allow Australians living in retirement communities to access the Home Equity Access Scheme; and
- Exempt a portion of home sale proceeds for the age pension asset test to reduce the financial disincentive for those considering ‘rightsizing’ while ensuring the security of their pension long term.
Browse villages.com.au to see the very latest retirement and community homes
