The rate of homeownership among younger Australian has dropped sharply in the last four decades as the dream of home-ownership has edged further away, but reintroducing inheritance tax could be the solution. Inheritance taxes, or death duties, were repealed in 1979.
That’s the view put forward by Australian Institute for Business and Economics director, Professor John Mangan in a recent report he led for the University of Queensland.
“Inheritance taxes present an opportunity to capture a portion of this tax and apply it directly to address housing affordability, reducing less equitable or efficient forms of tax, and or funding expenditure – such as education – aimed at improving equality of opportunity,” Mangan said.
Click here to read more
Source: Yahoo! Finance