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 our country. Australian billionaires’ wealth grows by $50,000 per minute, while more than 3.7 million people live in poverty. There are now 178 billionaires in Australia, and they hold more wealth than the bottom three million households.

The extreme wealth and luxury lifestyles of the super rich contrasts starkly 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 massive wealth accumulation in the midst of a cost-of-living crisis.

I congratulate you on the reforms in the Budget to the capital gains tax discount and the small changes to negative gearing, that unfairly benefitted wealthy investors. The measures to address fairness are welcome.

Yet, at a time of deepening inequality, rising housing pressures, escalating climate disasters, and growing global instability, I think the budget ultimately falls short of the bold action needed to tackle poverty and inequality in Australia and around the world.

As Treasurer, you have the power to address this. I urge you to introduce a 5% wealth tax on Australia’s billionaires, which in 2026 alone could have raised $33.7 billion. I call on you to invest the revenue raised from these reforms into essential services including public housing, addressing climate change, increasing humanitarian aid and eradicating poverty.

Globally, billionaire wealth jumped to its highest level in history last year – $18.3 trillion. 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.’ At the same time, the UN Tax Convention is currently being negotiated, which could be pivotal in ensuring multinationals and the super rich pay their fair share in tax. These are key steps towards global tax justice. I urge Australia to join with other nations to unite behind these shared solutions.

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]