An inherited wealth tax for Australia? The Henry Recommendation 25 for a bequests tax
Date
2012
Authors
Villios, S.
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Journal article
Citation
Revenue Law Journal, 2012; 22:8-1-8-10
Statement of Responsibility
Sylvia Villios
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Abstract
The Henry Tax Review considered the introduction of a bequests tax - a tax that would be levied on the accumulated wealth of people at the time of their death as a possible reform to Australia's tax system. The Henry Tax Review considers the introduction of this tax would be economically efficient, however puts it aside because of its controversial history.1 The article reviews the advantages and disadvantages of introducing a bequest tax in Australia. It draws upon Australia's experience with Death and Gift Dutites, its current approach to taxing property, and the European experience with a Net Worth Tax.
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