Australia scrapped inheritance tax 40 years ago – but did it work?


The Conservative Party yet again hinted at reforms to inheritance tax (IHT) this week, after the Housing Secretary Robert Jenrick said the 40pc death duty was “unfair”.  

It comes just one week after the Tory party conference, where Chancellor Sajid Javid said making changes to the hated toll was on his mind.

Experts have suggested any radical reform to the current regime could borrow from the Australian tax system, which abolished death duties 40 years ago in 1979.

British politicians have looked to Australia for a lead in the past, most recently in the introduction of “automatic enrolment” to workplace pension schemes – the biggest pension policy change for a generation.

So why did death duties…





Source link

Leave a Comment

Your email address will not be published. Required fields are marked *