Concetta Fierravanti-Wells (NSW, Liberal Party, Minister for International Development and the Pacific) Share this | Hansard source

I thank Senator Reynolds for the question. Last night, the Treasurer announced a budget that delivers for older Australians.

The budget includes $258 million for initiatives to support the incomes of those in retirement. The Treasurer said that this year's budget would guarantee essential services that Australians rely on, like Medicare, hospitals, schools and caring for older Australians. The Pension Loans Scheme will be open to all older Australians, including full-rate pensioners and self-funded retirees, so that they can boost their retirement income by up to $17,800 for a couple without impacting on their eligibility for the pension or other benefits.

We will support older Australians to stay in the workforce by providing wage subsidies of up to $10,000 for employers who employ older Australians. We will expand the Entrepreneurship Facilitators program and create a new skills and training incentive to provide mature-age workers with the opportunity to update their skills. And, to support the choice of older Australians who wish to stay at home, the government will increase the number of home care places by 14,000 over four years at a cost of $1.6 billion.

We will help Australians plan for a longer and healthier life with new online skills and health checks at ages 45 and 65 years linked to programs that can help them better prepare. We will fund targeted programs run by local sporting organisations and community groups to encourage older Australians to remain physically active for longer. And, of course, we will oppose unfair tax grabs on retirees and pensioners by enabling everyone who has invested in Australian companies that issue franked dividends to keep their tax refunds, unlike those opposite who are raiding the pockets, the purses and the bank accounts of those hardworking Australians who have been saving all of their lives.