I Just thought I'd put this out there, so in 10-20 years time I can point back to this thread and say I told you so.
My prediction is that sometime soon (10-15 years) to fill the tax revenue void left by a large amount of Baby Boomers retiring, accessing medical services and drawing the aged pension (aka the ageing population dilemma). The government will introduce (Re-Introduce?) death taxes.
Say 15% of you estate goes to the govt. on your death.
or inheritances are tax-free up to a certain level (Say $200K) then taxed at your Marginal tax rate.
Essentially an inheritance will be treated much like super is on your death, tax free to your financial dependants (wife and children under 18) but taxable to everyone else.
That'll stop that transfer of wealth!
My prediction is that sometime soon (10-15 years) to fill the tax revenue void left by a large amount of Baby Boomers retiring, accessing medical services and drawing the aged pension (aka the ageing population dilemma). The government will introduce (Re-Introduce?) death taxes.
Say 15% of you estate goes to the govt. on your death.
or inheritances are tax-free up to a certain level (Say $200K) then taxed at your Marginal tax rate.
Essentially an inheritance will be treated much like super is on your death, tax free to your financial dependants (wife and children under 18) but taxable to everyone else.
That'll stop that transfer of wealth!
