# Billionaire tax proposals grow; Australia weighs unrealised gains tax 2026-08-10T06:46:18+00:00 | World & Diplomacy | Indian Opinion Desk Corroboration: 1 independent outlet Hindustan Times reports that calls to tax billionaires are growing globally, with a California billionaire tax vote in November and UK economists proposing a net wealth tax on assets over £10 million. The debate extends to Australia, where the 200 richest saw wealth grow from $197 billion to $707 billion in a decade, largely through unrealised capital gains that are taxed preferentially over wages. Australia already taxes some wealth (land, large super balances) but inconsistently, leaving family homes untaxed. Solutions include a billionaire-specific wealth tax or annual taxation of unrealised gains, though valuations are difficult. The real question, the report argues, is whether existing mechanisms work, not whether to tax wealth. ## Coverage - hindustantimes.com Tags: Australia, billionaires, Capital gains, inequality, tax reform, wealth tax Canonical: https://indianopinion.org/billionaire-tax-proposals-grow-australia-weighs-unrealised-gains-tax/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/billionaire-tax-proposals-grow-australia-weighs-unrealised-gains-tax/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.