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Why there are calls for Australia to bring back the ‘death duty’ tax

Tom Elliott
Article image for Why there are calls for Australia to bring back the ‘death duty’ tax

There are calls for Australia to bring back “death duties” to help the country’s economic recovery.

But one economist warns it probably won’t have the desired impact.

“One of the problems death duties have around the world is that they don’t actually raise much revenue,” Professor Robert Breunig, Director of the Tax and Transfer Policy Institute at the Australian National University, said on 3AW Drive.

“Usually, they have pretty high thresholds, so they end up targeting very wealthy people, who are very good at hiring lawyers and accountants to find ways to get around it.”

Press PLAY below to hear him explain

Picture: Getty iStock

Tom Elliott
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