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November 2017 Newsletter
Welcome to our November 2017 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today and throughout the year ahead.
June 2017 Aged Care Sector Reports Released
The StewartBrown Aged Care Financial Performance Survey incorporates detailed financial and supporting data from over 950 residential aged care facilities and 500 home care programs across Australia. The quarterly survey is the largest benchmark within the aged care sector and provides an invaluable insight into the trends and drivers of financial performance at the sector level and at the facility or program level.
2017 Corporate Administration Survey
We recently conducted the 2017 Corporate Administration Survey and had a response from a large number of aged care providers covering 457 residential care facilities with 35,164 operational places, 12,972 home care clients and 15,395 occupied independent living units. Across the 58 organisations that submitted data, revenues totalled $4.8 billion and aggregated total assets were a total of $15.8 billion. The number of FTEs in these organisations totalled 36,135. The survey shows that corporate administration costs continue to increase at a rate greater than the increase in revenue, with a particular increase in corporate administration staff costs. Organisations are on average spending 15.39% of their operating revenues on the administration of their business. Further analysis on the composition of corporate administrations costs and analysis by different characteristics such as locations, net assets, revenue type are set out in the attached report.