AgedCareIQ addresses the growing demand from accounting firms and the general community.

AccountantsIQ has launched a package of self-service resources and outsourced consulting to help accountants tackle the tax issues that arise for the rapidly ageing population.

The education company for accountants, known for its CPD courses and leadership consulting services with CA ANZ, developed the AgedCareIQ information guides in response to growing market demand.

Founder and director Bronny Speed said accountants were often the “first port of call” to help ageing clients manage their affairs and AgedCareIQ would be a tool for them to use collaboratively with clients, staff and networks. 

“Navigating the aged care maze can be difficult, time consuming and emotionally exhausting for all,” she said.

“This new offering is an aged care solution for clients who need guidance to look after their loved ones,” she said. “It has been developed for the many busy people who care.” 

AgedCareIQ, launched at the IPA National Congress last week, included six sets of self-service information and checklist packages, priced at $125 each. 

“Clients or their loved one can start wherever they need to in the maze, then purchase packages of information and checklists at their own pace and as circumstances change,” Ms Speed said. 

The six sets covered how the aged care system worked, how to fund types of care available, funeral and estate planning, other professionals customers could engage, and other “practical issues” for consideration. 

“The self-service offering allows you or your loved one to work through the maze of complexities in your own time and at your own pace,” AccountantsIQ said. 

“The structured format will save you hours of time and stress and they are downloadable for you to work through at your convenience.” 

Additionally, the company offered a “silver” service priced at a minimum of $5,500 per customer. 

It said the service would offer help on a “one-on-one basis with an outsourced professional and results in a detailed document for direction and implementation”. 

“For those who do not have the time, desire or headspace for the self-services option and for those wanting a customised roadmap, AgedCareIQ Silver Service Offering is for you. We schedule a time for an initial discussion with you (and ideally your loved one) typically via Zoom video call or telephone call. We then prepare a customised roadmap for you, tailored to your specific wants and needs,” it said. 

According to the government’s latest Intergenerational Report in August, the coming decades would see the number of people over the age of 65 double, and the population over 85 triple. 

The report also showed the aged care economy could almost double to around 15 per cent of GDP by 2062–63.

Source: Accountants Daily, Christine Chen, 4 December 2023