Submitted 3 days ago by okwithmydecay@leminal.space to australianpolitics@aussie.zone
https://www.sbs.com.au/news/article/what-australians-pay-when-they-die-death-tax-debate/2i280bqhu
Good. Go after trusts.
At a former workplace of mine, I overheard the directors discussing how their family trusts worked to minimise tax. These guys were on around a million dollar a year. (Publicly listed company)
I remember one saying, don’t worry, the government will never change the laws on trusts as they all use them too.
Never thought this labor govt would grow a spine, but it appears that’s slowly happening.
Yeah, my ex boss was the same. He used one because it reduced tax
Trusts are 100% tax dodging
the old unearned income tax.
Even for the poor, anyone with superannuation may be caught paying a tax when it passes on to your beneficiaries.
Basically, your super may be split into a taxable and non-taxable part. And you have to pay 15% on the taxable part when it is withdrawn. So, when you die, that 15% of the taxable part has to be paid.
There are ways to avoid this. Best to speak to a financial adviser.
This is not financial advice. I am not a financial adviser.
TheCriticalMember@aussie.zone 3 days ago
I’m fine with taxing inherited wealth. Why should my landlord’s kids be my kid’s landlords by default?