Aged Care Financial Reporting Under the New Act: A Board Guide

The Aged Care Act 2024 started on 1 November 2025. It changed how providers are registered, how home care is funded, and what goes into financial reports. For not-for-profit aged care providers, the board is ultimately accountable for getting this right.

This guide sets out the main financial reporting changes and the questions your board should be asking.

Quick Summary

From 1 November 2025, approved providers became **registered providers** under the Aged Care Act 2024.
Home Care Packages and Short-Term Restorative Care moved to the **Support at Home** program.
The **Quarterly Financial Report (QFR)** continues, now lodged through the new Registered Provider Portal.
The **Aged Care Financial Report (ACFR)** for 2025-26 includes new statements, including a Care Minutes Performance Statement and a Support at Home Income and Expenditure Statement.
The **Annual Prudential Compliance Statement (APCS)** for 2025-26 covers both the old and new legislation.

What changed on 1 November 2025

Registration

Approved providers transitioned to registered providers. For a small number of organisations, the department notes this involved a change in organisational structure. If your structure changed, your accounting and reporting entities may need to change too.

Support at Home

Home Care Packages and Short-Term Restorative Care were replaced by Support at Home. Financial reporting now follows the Support at Home service list, so your chart of accounts and cost allocation need to match the new service categories.

The reports, and what is new

Quarterly Financial Report (QFR)

Each registered provider of residential care or Support at Home completes one QFR per quarter. From Quarter 2 of 2025-26, the QFR is lodged in the new GPMS Registered Provider Portal. The department's guide lists several changes, including:

updated terminology for the new Act
liquidity questions and ratios removed
bed licence items removed
"Available bed days" renamed "Operational bed days"
simpler Support at Home labour reporting

Aged Care Financial Report (ACFR)

Each registered provider completes one ACFR. For 2025-26 the department lists these key additions:

a **Care Minutes Performance Statement** covering 1 November 2025 to 30 June 2026
a new **Support at Home Income and Expenditure Statement** aligned to the service list
new residential items for Higher Everyday Living fees and related expenses

Providers of Home Care Packages and Short-Term Restorative Care must still report activity up to 31 October 2025, so the 2025-26 year straddles two systems.

Annual Prudential Compliance Statement (APCS)

The APCS for 2025-26 covers obligations under both the old and new legislation. The department advises providers to read each question carefully. Your auditor will also need to understand which rules applied in which part of the year.

Why this matters for the board

The 2025-26 financial year is a transition year. Data now comes from two systems, two sets of rules and, for some providers, two structures. That creates a real risk of errors in reports that the regulator relies on.

Common problems we expect to see include:

1. Mismatched periods. Care minutes and Support at Home figures only cover part of the year. 2. Old account codes. Charts of accounts built for Home Care Packages do not split costs the way Support at Home reporting needs. 3. Manual workarounds. Spreadsheets bridging old and new categories, with no review trail. 4. Late lodgement. New portals and new forms take longer the first time.

Questions your board should ask

Has our chart of accounts been updated for Support at Home service categories?
Who prepares the QFR, and who reviews it before lodgement?
Do we have a reconciliation between the QFR, the ACFR and our audited financial statements?
Has our auditor confirmed the approach to the APCS for a year that spans two Acts?
Are lodgement dates in our board compliance calendar, with a named owner for each?

Practical steps for finance teams

1. Map every old Home Care Packages account to the matching Support at Home category. 2. Set up cost centres so care minutes and Support at Home income and expenses can be reported for the correct part of the year. 3. Build a reconciliation template that ties quarterly figures to the annual report. 4. Hold a pre-lodgement review meeting for each report, with documented sign-off. 5. Brief the finance committee on any figures that cannot be compared with the prior year.

Governance and record keeping for NFP providers

Most not-for-profit aged care providers are also registered charities. That means two sets of obligations apply at once: aged care reporting to the department, and ACNC governance and record-keeping obligations.

Under ACNC Governance Standard 5, Responsible People must oversee the charity's finances responsibly and must not let it operate while insolvent. In aged care, where quarterly and annual reports feed directly into regulatory oversight, the board needs evidence that reports are accurate before they are lodged.

The ACNC requires registered charities to keep financial and operational records for seven years. For aged care reporting, keep:

each lodged QFR, ACFR and APCS, with the working papers behind them
reconciliations between quarterly reports, the annual report and the audited financial statements
the mapping from old Home Care Packages accounts to Support at Home categories
board or finance committee minutes approving each report before lodgement
auditor correspondence on the transition year

Clear records make it far easier to answer questions from the department, your auditor or the ACNC.

Frequently Asked Questions

Q: When did the new Aged Care Act start? A: The Aged Care Act 2024 commenced on 1 November 2025.

Q: Do we still lodge a Quarterly Financial Report? A: Yes. Registered providers of residential care or Support at Home lodge one QFR per quarter, now through the GPMS Registered Provider Portal.

Q: What is new in the 2025-26 Aged Care Financial Report? A: The department lists a Care Minutes Performance Statement, a Support at Home Income and Expenditure Statement, and new residential items for Higher Everyday Living fees.

The Bottom Line

The first year under the new Act is the hardest. Boards that ask for a clear map from old to new reporting, and a reconciliation between quarterly and annual reports, will be in a much stronger position with their auditor and the regulator.

Official guidance

[Department of Health, Disability and Ageing: Guide to changes in financial reporting from 1 November 2025](https://www.health.gov.au/sites/default/files/2026-06/guide-to-changes-in-financial-reporting-from-1-november-2025.pdf)
[Department of Health, Disability and Ageing: Aged Care Financial Report](https://www.health.gov.au/topics/aged-care/providing-aged-care-services/reporting/aged-care-financial-report)
[ACNC: Governance Standards](https://www.acnc.gov.au/tools/factsheets/small-charities-library-acnc-governance-standards)
[ACNC: Record keeping](https://www.acnc.gov.au/tools/topic-guides/record-keeping)

Always check the department's website for current lodgement dates and form versions. This article is general information only and does not take your organisation's circumstances into account.

Book a Free 30-Minute Board Briefing to talk through your aged care reporting. Book now →\n