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    Housing wealth and aged care: asset-based welfare in practice in three OECD countries

    85210.pdf (1.200Mb)
    Access Status
    Open access
    Authors
    Wood, Gavin
    ViforJ, Rachel
    Haffner, M.E.A.
    Date
    2020
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Wood, G.A. and Ong, R. and Haffner, M.E.A. 2020. Housing wealth and aged care: asset-based welfare in practice in three OECD countries. Housing Studies.
    Source Title
    Housing Studies
    DOI
    10.1080/02673037.2020.1819966
    ISSN
    0267-3037
    Faculty
    Faculty of Business and Law
    School
    School of Accounting, Economics and Finance
    Funding and Sponsorship
    http://purl.org/au-research/grants/arc/FT200100422
    Remarks

    This is an accepted manuscript of an article published by Taylor & Francis in Housing Studies on 21/09/2020 available online at http://www.tandfonline.com/10.1080/02673037.2020.1819966

    URI
    http://hdl.handle.net/20.500.11937/85446
    Collection
    • Curtin Research Publications
    Abstract

    The transition of the baby boomer bulge into old age and their increasing longevity will lift the numbers of elderly in residential aged care. Population ageing and associated fiscal pressures have motivated governments to shift responsibility for the financing of aged care to the individual. We consider policies that include owner-occupiers’ housing wealth and imputed rental incomes in means tests that determine co-contribution charges for residential aged care. Differences in how housing wealth is included in the residential aged care resource tests of three OECD countries–Australia, England and the Netherlands–are documented. We find some neglected equity implications as tenants in all three countries typically pay higher co-payments for their residential aged care than homeowners with similar wealth holdings. These outcomes are a consequence of the concessional treatment of owners’ housing equity stakes, and of wider significance given the growing importance of asset-based welfare strategies. England has relatively progressive asset and income tests that offer more limited concessions.

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