Wealth distribution in Australia is changing – the rich are getting richer and the poor poorer

Anglicare Australia have released a fourth report in their series Australia Fair. It looks at how tax breaks for superannuation and housing investment have contributed to the wealth inequity. It also analyses how high house prices have locked many out of housing and financial security.

“Australia is becoming more unfair and more unequal. Our research shows that the wealthiest Australians now have 90 times more than wealth than those with the least – and that gap is widening every year,” said Anglicare Australia Executive Director Kasy Chambers.

“Our research also shows that inequality has been turbocharged by tax breaks that help people who are already wealthy build big superannuation balances, property portfolios, and investments”.

Read the full report here:

New report shows Australia’s tax system is fuelling inequality