The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.

The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.

The proposal would introduce an annual tax levied on the net wealth of Australian residents,
regardless of where their assets are held, and the net wealth of non-residents who hold Australian
assets from 1 July 2022.

• Australian adult residents’ net wealth would be equal to the value of all assets minus al liabilities.
• Non-residents’ net wealth would be equal to the value of their Australian assets minus

Australian liabilities.

The following features of the tax would apply to both residents and non-residents.