Staurday 2 May 2026

The Hon Tim Wilson MP

Shadow Treasurer

Federal Member for Goldstein

Albanese announces full suite of taxes Australians didn't vote for:

X Family Savings tax on unrealised gain

X Family savings tax on shares

X Family savings tax on property

X Family savings tax on small business

X Family savings tax on trusts

? Family savings tax on homes


“The Albanese government seems set to double down on their family savings tax raid by flagging yet another tax Australians didn’t vote for,” said Shadow Treasurer, Tim Wilson.

Mr Wilson’s comments follow reports in today’s The Australian that Labor is set to launch yet another tax on family savings by targeting trusts which will hit families and small business owners.

“The Albanese government announced and aborted their family savings tax on unrealised capital gains, they’ve flagged a family savings tax on shares, small business and property, and they’re now hitting family trusts, and with broken promises on capital gains it raises questions about the family home next.”

“The assault on family savings from this government is unprecedented. We have the Prime Minister encouraging generational fights over the Sunday roast, and it is all to feed the Treasurer’s spending addiction because he didn’t take inflation seriously,” Mr Wilson said.

“Family savings are about to be hit as hard as multinationals, but without the corporate write offs,” Mr Wilson said.

“Self-starting Australians who structured their entire lives around their small business are about to be smashed, and that’s in a cost of small business crisis and record small business insolvencies,” Mr Wilson said.

“In the economy Labor has built, the focus of the government is how to hit the income of honest taxpayers, not stop it going to dishonest corruption and fraud, like the CFMEU,” Mr Wilson said.

“The full family suite is on the hit list - this isn’t tax reform, it’s just a tax raid.”

“Under the claim this will help young Australians, the Prime Minister seems hell bent on lifting the ladder of opportunity up from them before they get their first foot on the rung,” Mr Wilson said.

“While the Prime Minister is arrogantly boasting of his third term, he’s set to introduce the next in a long list of taxes at www.notthetax.com.au that Australians didn’t vote for,” Mr Wilson said.

ENDS