Former treasurer Peter Costello told a royal commission that despite his financial literacy, he had trouble filling out complex aged care paperwork and has no idea how someone going into a nursing home could be expected to do it. The federal government uses asset and income tests to determine how much people pay for residential aged care or services provided in their home. Costello, Australia’s longest-serving treasurer of 11 years, said he tried to complete the forms with his family. “I think I’m reasonably financially literate. I had a lot of trouble filling it in,” he told royal commission hearings examining the sector on Sept 16. “I don’t know how a person going into a nursing home would ever be able to fill it in.” Costello believes it is fair to have an assets and income test, but said the paperwork included more than 100 questions across 27 pages. “This is …
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