The development of an online tool for financial strategies related the residential aged care cost.

Impact: Society impacts

Description of impact

An innovative online residential aged care fee calculator will be built to clearly explain the accommodation and care fee costs involved, tax impacts and social security implications to seniors and their families. The calculator will help older Australians obtain substantial knowledge of digital and financial literacy by using this online calculator and investigate the financial planning problems within the context of the Australian aged care sector and improve seniors' financial literacy about the residential aged care
Category of impactSociety impacts
Impact levelEmerging