A Costly Choice

Anglicare Australia has released A Costly Choice, a report showing that Australia loses billions of dollars each year on tax breaks and concessions that benefit people on the highest incomes.

A Costly Choice shows that:

  • The cost of concessions for properties, investment homes, superannuation, and trusts has spiralled to $128.26 billion.
  • Much of that cost, $72.38 billion, will go to the wealthiest 20% of Australians.
  • Just $4.2 billion (3%) will go to the bottom 20% of income earners.
  • Another $17.7 billion will be spent on the next round of tax cuts.
  • $14.1 billion of that cost (80%) will go to the wealthiest 20%. None will go to the bottom 20%.