When Richard Pratt died recently and Kerry Packer some time ago, two huge estates were passed on to heirs.It can be argued that these were just two robber barons who could have easily contributed billions to the country that made them rich,and still have left their heirs wealthy beyond any ordinary persons wildest dreams. Death duties were originally designed to break up huge estates and give everyone a fair go,and avoid the aristocrat system established in England. With a decent threshhold, to allow a reasonable amount of wealth transfer, from one generation to another should they be reintroduced? Should wealthy individuals be exempted from contributing to their country. They cannot take it with nthem.

count me in...[its a great job creator]...i feel those who avoid paying taxes..[keeping their wealth..locked away..into famnily trusts..and multinational corp's...need to pay tax..[just like the wags slaves do]

but it needs to be done globally

and as persons do die BUT..[big business dont die..they must have a 30 year cycle...where THEIR death duties become due...[too]...if only to break up their monopoly positions...every asset should be sold off [on the web...and 25 percent tax paid on true...[real value]

big business then can buy the whole lot back[via share issue...or decide what is 'core business'...and buy that back...at the auction of the assets and estates...but 25 percent goes to govt...at least govt gets tax from everyone

again..it needs to be done globally...

with a built in forfiture for assets..not claimed to be belonging to a living...flesh and blood]..human..or any corp gone through the process

what has happend...[as you would know..is that business has adopted the rights people USED to have..

.and living beings..[with souls]..have become chattles of multinationals..that now are legally called persons..dead corps/persons..[that own yet other multinationals/persons

allowing huge monoploy positions/cartels..to hold eternal franchise.. under the protection of to big to fail..in-corpse-orations...[limited liability...corperations]..while still claiming rights..due only to persons...[in times gone past]

its time person..meant a living being..not a big business personum[persona incogneta]...or corpus personum

no business should have more..[or higher]..rights..than any living/..human being...

its time all..persons...lol.. were regarded as having duties as well as rights...

time to end the dead corp's..undermining the living...

all bodies/persons... should be serving life...[not hiding under the dead ltd..incorperation..or trusts...to avoid paying their due's

The problem is that it will be thin end of the wedge.Very soon all individuals will be paying death duties.

Another consideration is the loss of capital by countries that introduce death duties.They will simply relocate to another country that has no duties.Currently we have Aust Business council suggesting that Corporate taxes be halved while the GST to be increased.With countries like Aust needing capital,it is very easy to for our leaders to be pushed into a corner,of higher taxes ,lower wages,lower corporate taxes etc just to keep industry here.

The solution is not greater taxes.We need smaller Govt,less corporate power and the ability to create our own credit rather than borrowing form OS.

I think it'd be a good idea, subject of course to Peter's caveat of "With a decent threshhold" - but that's the rub, isn't it? What's a decent threshold?

Certainly, in the case of the odious and erstwhile Packer - who boasted about not paying personal income tax while he was alive - it would seem reasonable that his estate should be taxed.

Actually PtB, Richard Pratt was no "robber baron" as you seem so willing to believe.

Mr Pratt was probably THE biggest benefactor, by a loooooong shot, to good causes in Australia. I bet his life has done more good, for more people, than everybody registered on this forum COMBINED. PtB, you're talking through your "you know what". Richard Pratt was a GREAT Australian. And I bet you have NO IDEA where, or how, his wealth is being distributed after death. I bet you have NO idea about his Carlton club presidency and how it was used for magnificent philanthropy works that benefited thousands upon thousands of disadvantaged Aussies (the ignorant just think he was an Aussie Rules fan who bagged the top job there for his own ego - - - - how wrong and stupid they are).

PtB, you obviously "envy" the rich and famous; so much so that you even want to control their assets after their death. Hey, isn't envy supposed to be a sin? But I guess that extremist Christians like yourself think they can talk their way out of anything when they meet God at the Pearly Gates. Careful PtB, you just might find yourself directed towards that warm "other" place instead. You'd have a devil of a time down there.

*...every asset should be sold off [on the web...and 25 percent tax paid on true...[real value] *

Fair enough UOG. So all that silver under your bed should be sold,
plus the dope plant in the garden, on Ebay, 25% tax! We the people
should benefit from you rich buggers :)

Btw CJ, Kerry Packer paid hundreds of millions of dollars in tax.