With changes to the way trusts are taxed soon to be introduced to parliament, this research reveals that revenue equivalent to almost a quarter of GDP now flows through trusts. The report uses Treasury data which shows that trusts are overwhelmingly used by the wealthiest Australians.

Household wealth in Australia has grown strongly over the past two decades. But this growth has not been evenly distributed across the population or across the life course. This briefing examines the distribution of net worth and its key components across Australian age cohorts, with a particular focus on households aged 65 and over.

This report proposes delivering cheaper housing for homebuyers through the creation of a Commonwealth-administered Extreme Land Wealth Levy that applies only to the largest land portfolios in Australia. It proposes a levy on unproductive land worth over $20m could deliver a 10% stamp duty cut for all new houses, enhancing supply and fairness.

Policy and demographics are changing the character of Australia’s social safety net. Cash transfers like JobSeeker and Family Tax Benefit are shrinking. Meanwhile, ‘in-kind’ transfers like government-subsidised education, disability and health care are increasing quickly. This paper uses survey microdata to detail how rising in-kind transfers are changing who receives government support.

The Australian economy is unusual, in both what it produces and its policy settings. Policymakers cannot borrow blindly from overseas. Researchers need to do their part by providing careful analysis of Australian circumstances. In that vein, this report sketches five unusual features of Australia’s economic structure.