Tax the super rich. Email the treasurer.

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Treasurer, it’s time to tax the super rich

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Dear Treasurer Jim Chalmers,

I am deeply concerned about inequality and extreme wealth in Australia. In 2025, average Australian billionaires’ wealth grew by almost $600,000 a day and Australia’s 48 billionaires now hold more wealth than the bottom 40% of the population combined. And yet, more than 3.7 million people live in poverty.

This extreme wealth contrasts starkly contrasts with the financial uncertainty faced by everyday Australians, who struggle with soaring living costs, stagnant wages, and underfunded essential services.

Our healthcare, education, and housing systems are under strain, while the ultra-wealthy continue to benefit from tax loopholes and an unfair system that enables extreme wealth growth in the midst of a cost-of-living crisis.

Globally, billionaires pay an effective tax rate of around 0.3% of their wealth. In Australia, 85.6% of the capital gains tax discount goes to the highest 10% of income earners. Our progressive tax system is failing us where it’s needed most to address inequality and raise revenue for essential services and eradicating poverty.

As Treasurer, you have the power to address this. I urge you to introduce a wealth tax on the richest 0.5% of households. Also, I would like to see the 50% capital gains tax discount scrapped, so that income from wealth is taxed the same as wages. I call on you to invest the revenue raised from these reforms into essential services, addressing climate change, humanitarian aid and eradicating poverty at home and in our region.

Internationally, billionaire wealth jumped by over 16% in 2025, three times faster than the past five-year average, to $27.7 trillion – its highest level in history. So, I also call on you to also advocate for global cooperation to tax the super-rich at the United Nations and G20.

At the 2025 UN Conference on Financing for Development in Seville, Brazil, Spain and South Africa launched a new coalition on taxing the super rich, the ‘Seville Platform for Action.’ This is a key step towards global tax justice. I urge Australia to join with other nations to unite behind a shared solution.

It’s time for bold leadership. By acting now, you can help build a fairer and more equal Australia — one that works for all of us, not just the wealthiest few.

I look forward to hearing from you on this important issue.

[Insert Your Name]