We’re now on the brink of what could be the biggest shake-up to the Australian tax system since the GST was introduced back in 2000.
Federal Treasurer Jim Chalmers has signalled that tax reform is not just on the agenda - it’s a priority. But what kind of reform are we really talking about here?
If you dig beneath the headlines, this isn’t just about closing loopholes, it’s about reshaping how wealth is taxed and redistributed in a very different economic and demographic Australia.
Whether you're a business owner, property investor, or self-funded retiree, you may be directly in the firing line. And while Chalmers says this isn’t about a ‘tax grab’, many of us know that when Canberra talks about ‘fairness,’ it often means someone else is footing a larger bill.
So today, Ken Raiss, Director of Metropole Wealth Advisory, and I discuss what’s being proposed, what the real motives might be, and how you can future-proof your wealth and estate plans amid the uncertainty.”
Takeaways
· Debt burden is driving government tax reform discussions.
· Australia's gross debt is projected to exceed 100% in five years.
· Government spending is increasing significantly, impacting taxpayers.