Asprey and the taxation of wealth : where to next?

Abstract

This article explores the contributions of the Asprey Committee on wealth transfer taxation and net wealth taxation to identify lessons they may hold for the present. The study commences with an identification of the origins and evolution of wealth taxation in Australia prior to Asprey followed by an analysis of the actual Asprey recommendations on wealth taxation. This is followed by an examination of the largely disappointing Australian post-Asprey developments and a final section that seeks to identify whether any lessons can be or have been learnt and where the wealth tax debate may head next in the Australian fiscal landscape.