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this post was submitted on 12 Jun 2025
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About 200 Australians have money.
Almost a quarter of it.
Yeah, that sounds about right. I thought y'all used water or bottle caps, kinda like Fallout. Seriously though, sounds like it's a simple enough problem.
Tax property. Probably rather difficult to do though.
After a threshold. You don't want to tax some poor pensioner who has lived in the same 2-bedroom cottage in Carlton for 60 years, simply because that location is now worth $2Million.
And now it's complicated. How do you find that threshold?
If it's per-person, you'll find rich people divvying up their portfolios to family members to distribute this tax benefit.
If you grandfather it in so it only affects future property purchases, you disincentivise retirees from downsizing to a smaller place, freeing up some 4-bedroom house.
Taxation policies are hard.