Tax expert, Melbourne University professor, Dr John Freebairn, has slammed Australia’s tax and welfare system, which allows wealthy people who own their own homes to escape paying tax on gains made, whilst allowing them to receive the aged pension by excluding it from the assets test. From The Age:
“It really strikes me as crazy, the current tests,” Professor Freebairn said. “Your home is exempt. I could be sitting on a $10-million home and actually get the full pension, and quite a few (people) do.
