Tuesday, 2 April 2019
I understand that Senator O'Sullivan doesn't support an inheritance tax but, given his very admirable property portfolio, if there was an inheritance tax we could fund our dental care under Medicare plan, I'd suggest. The truth is that while we are not going to take inheritance tax to the next election we do support the principle of an inheritance tax. We don't think it should capture the family farm or indeed modest inheritances. But it is about chipping away at the dynastic wealth of the richest people in our society. And let's remember that nine out of 10 times they've inherited the wealth themselves; they don't do it on merit. Passing on unearned wealth from huge and wealthy estates entrenches economic disadvantage. So we do support the taxation of obscene unearned wealth to invest in the education and training of those not born into money, and that's why we oppose this motion.
Question agreed to.