In this episode, Mena and Stuart dive into Australia’s complex tax system, using insights from a thought-provoking discussion paper by Matt Grudnoff of The Australia Institute. He examines how, when welfare and superannuation are factored in, Australia’s reliance on income tax may not be as unbalanced as critics claim. Still, Stuart raises the question: What could a more common-sense approach to tax reform look like?
He explores potential policy ideas, including introducing a luxury GST rate, capping the main residence exemption, and reconsidering the structure of capital gains tax, particularly the implications of taxing unrealised gains on balances above $3 million. He critiques this measure as a major revenue target that few Australians will be willing to pay, questioning its efficiency and fairness.
The episode also explores the limitations of inheritance tax, explaining how it can be easily circumvented, and whether there’s merit in offering CGT discounts for landlords who rent their properties below market value.
Drawing from the ProSolution team's paper on tax reform, he discusses smart alternatives that aim to balance fairness, simplicity, and sustainability. This episode is a must-listen for anyone interested in the future of tax policy and how reform could better serve Australians.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.