Joint Submission – SMSFA CAANZ CPA FAAA – Department of Aged Care – New Aged Care Act (Exposure Draft)

Consultation on the New Aged Care Act (“Exposure Draft”)

Chartered Accountants Australia and New Zealand, CPA Australia, Financial Advice Association of Australia and SMSF Association welcome the opportunity to make a submission to the consultation on the New Aged Care Act (“Exposure Draft”). We are the peak professional bodies for the professional accountants, tax sector and financial advice. We make this submission on behalf of our members and in the public interest.

The Exposure Draft seeks to ensure aged care facilities are well run and supervised and clients always receive appropriate care and assistance. We have many members involved in all areas
of aged care, including:

• providing accounting expertise to assist the finance and management reporting areas
  of aged care providers;
• financial advice and support to consumers and their families to understand how the
  aged care rules work and how aged care services and costs interact with other services
  to meet the consumer’s needs; and
• engagement with the aged care system as users and clients of the system themselves
  (either personally or on behalf of older relatives).