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How Australia’s tax system subsidises wealth over work (archive.md)

submitted 5 days ago by hanrahan@slrpnk.net to c/ausfinance@aussie.zone

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https://www.afr.com/politics/federal/4m-pensioners-how-australia-s-tax-system-subsidises-wealth-over-work-20260227-p5o666

Jeff Oughton, 69, cannot understand why people aged in their 20s and 30s are not noisily protesting with placards to demand a better tax deal for working-age people.

“I don’t know why young people aren’t marching in the streets,” says Oughton, a retired bank economist.

“Rich people like me who stopped working at 53 and have been wandering the world travelling and volunteering, their tax rates in retirement are effectively zero.

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[–] notgold@aussie.zone 1 points 3 days ago (1 children)

2 minds on this. For one, if you got that much equity the you should have to fund yourself. But two, once you have lived somewhere for 40,50,60 years you are just used to that and unless you knock down rebuild town houses (not all can afford) you are forced to move to a new area.

[–] DavidDoesLemmy@aussie.zone 2 points 3 days ago (1 children)

If you can't afford to support yourself where you live and don't want to move, get some housemates like everyone else.

[–] notgold@aussie.zone 1 points 2 days ago

Yeah nah. Maybe some government guarantees on reverse mortgages and stamp out the assholes