Archive · 19 Aug 2025
Australia Considers Inheritance Tax Return to Boost Revenue
Australia is considering bringing back the inheritance tax, which is a tax on money or property people inherit.
Some experts think this could help raise a lot of money for the country.
If the government brings back this tax, it could collect about $10 billion.
Additionally, they could raise even more money, $41 billion, by taxing the wealthiest people in the country.
This tax was used in the past.
Advocates believe it could also help make things fairer for younger generations.
Some people call this the 'death tax'.
Australia may reintroduce an inheritance tax to generate more revenue.
The Australia Institute suggests an inheritance tax could raise $10 billion.
A wealth tax on those worth over $5 million could yield $41 billion annually.
An inheritance tax existed in Australia in the 1960s and 1970s.
Advocates believe inheritance tax could help with intergenerational inequality.
- Who
- The Australia Institute and some economists are advocating for the tax.
- What
- Australia is considering reintroducing inheritance tax.
- When
- Discussions are happening now, ahead of an economic roundtable.
- Where
- Australia
- Why
- To raise government revenue and reduce intergenerational inequality.
Advocates for Inheritance Tax
Critics of Inheritance Tax
Purpose
Advocates for Inheritance Tax
Supports Inheritance Tax
Critics of Inheritance Tax
Opposes Inheritance Tax
Impact
Advocates for Inheritance Tax
Reduce inequality.
Critics of Inheritance Tax
May harm low- and middle-income citizens.
Goals
Advocates for Inheritance Tax
Raise Revenue for services.
Critics of Inheritance Tax
May be called the 'death tax'
- Potential Revenue from Inheritance Tax
- $10 billion
- Potential Revenue from Wealth Tax
- $41 billion
- Tax Type
- Inheritance Tax
- Previous Existence
- 1960s and 1970s