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

According to Australian National University tax expert Bob Breunig, Australia is trending towards a "neo-feudal society" due to the increasing disparity in housing wealth. Breunig, director of the ANU's Tax and Transfer Policy Institute, believes that an individual's prosperity is becoming increasingly dependent on parental property ownership. He argues that the real inequality lies between those within the same generation who own assets and those who do not. This trend is driven by the explosion in housing wealth across the country. The expert's warning highlights concerns about the growing impact of inherited wealth on economic opportunity in Australia.