Due to the problem of aging populations, governments are facing a serious challenge of fiscal burdens that arise from the increase in the number of pension recipients while the number of taxpayers is decreasing (Bloom et al 2011). The Australian Bureau of Statistics (2010, p.3) suggests that increasing “the labor force participation rate of older people” is an effective way to mitigate the fiscal pressure resulting from an aging population. The result of older people's participation in the workforce is less dependence on public pensions, which helps ease the government's fiscal burden (Adair, Tim, & Meimanat, 2011). According to Treasury research, a 10% increase in the labor participation rate of people aged between 59 and 69 would reduce the tax gap by 2.75% (Tesoro, 2010). Furthermore, due to the growing labor participation of the aging population, more senior citizens contribute to tax revenues, which causes a reduction in government tax revenues.