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Is Inheritance Tax the answer to Aus inequality?, page-5

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ruskie

2,636 Posts.

04/01/22

09:57

Post #: 58622279
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Originally posted by moorookamick ↑

Ask the USA & the UK to answer your questions.
Let's face it, we defacto outsource our National Security to them
as evidenced by the recent Nuke Sub deal as well as being
a partner in the 5 eyes program.

But of course, China doesn't have an inheritance tax if
you fancy following its example...eh?

Inheritance tax is imposed on those who do not earn the money
just as our inherited Superannuation is taxed because it was the deceased
who earned the Superannuation Tax concessions; not the inheritor.

IMO the Aus taxation of inherited Super is half ways to a full blown
Inheritance Tax like that of the USA, UK, Japan etc.

Wile we followed the USA & the UK in adopting Neo-Liberalism
which saw the wealth gap increase exponentially since the 1980s,
we did not institute an inheritance tax to partially counter this trend.

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How much of the tax is paid and not off loaded before death?
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