On April 20, Chalmers highlighted ‘intergenerational unfairness’ in wealth transfer via taxes and housing, with the May 12 federal budget exploring options like capital gains tax adjustments to tackle these issues amid NDIS cost pressures nearing $62 billion by 2028-29.
Savers and investors reacted strongly, viewing potential changes to superannuation or property taxes as threats to hard-earned family assets, while critics like the Coalition warned against new taxes stifling housing supply.
If you and your family have worked hard you’re entire lives in order to get ahead and look after your family. Jim Chalmers is coming for you. The money sitting in your bank account that has already been taxed, will be taxed again when you pass it on to your kids in the event of your death.
This is what communism looks like.
Labor emphasises equity and fiscal responsibility to shield households from global inflation risks, but specifics remain pending for budget night.