The proposal would introduce an annual tax levied on high wealth individuals where their wealth exceeded $100 million with the following rates:

• 5% of the individual’s net wealth between $100 million - $1 billion; and
• 10% of the individual’s net wealth above $1 billion.

There would be a 10% limit of capital flight per year.

The proposal would be ongoing and start on 1 July 2025.

The proposal would introduce an annual tax levied on high wealth individuals where their wealth exceeded $100 million with the following rates:

• 5% of the individual’s net wealth between $100 million - $1 billion; and
• 10% of the individual’s net wealth above $1 billion.

There would be a 10% limit of capital flight per year.

The proposal would be ongoing and start on 1 July 2025.

The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.

The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.

The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.