Wherever taxpayer dollars up for grabs, rent-seekers will be there by the dozen. In Australia’s aged care sector, governments pick up some 70 per cent of the chit while private providers rake in the profits, often deploying aggressive tax avoidance schemes. The upshot is that taxpayers effectively get hit twice.

“Any company that receives tens of millions of dollars in annual government subsidies must be required to be transparent and held publicly accountable.”

It’s a sensible principle, a principle espoused by the Australian Nursing and Midwifery Association in a report by Tax Justice Network Australia.

Australia faces a crisis in health and aged-care funding. In 2016, 15 per cent, or

one in seven Australians, were aged 65 years or older. By 2056, this percentage is expected to grow to 22 per cent or 8.7 million people.

Despite the impending crunch, the TJN report found an “alarming” failure of accountability and transparency, and rampant tax avoidance.

Among the findings: