Tax expert worried Australia on path to neo-feudal society as housing wealth drives inequality

Real inequality is between those who have assets and those without in same generation, not young versus old, says ANU academic

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One of the country's leading tax experts says the explosion in housing wealth has put Australia on the path towards a neo-feudal society where your prosperity depends in large part whether your parents own land or property.

The director of the Australian National University's Tax and Transfer Policy Institute, Bob Breunig, said that's the trajectory we're on".