A new Aged Care Taskforce Report has proposed some changes for Australia's aging population.

The taskforce acknowledged more money was needed to fund care for Australia's elderly- and suggested participant co-contributions be increased.

The report ruled out meeting the rising costs with extra taxes, citing 'intergenerational equity issues'.

Australian correspondent Murray Olds says the region's aging population is outpacing younger working taxpayers- which is a 'massive problem'.

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