Its got nothing to do with tax but these numbers do my head in…

According to a recent report…

You need to have wealth (house, car, super… Less debts) of $4,400AUD to be in the top 50% of the world’s adults by wealth. 

To get in the top 10% of the world’s adults by wealth you need to have $94,000AUD in assets. 

To be a part of the 1%, that the occupy movement wanted to get rid of, your net wealth needs to be just over $1 million AUD. 

The average Australian adult has wealth of over half a million AUD dollars. This puts them in the top 5% of adults by wealth.

I have taken my two sons to 2nd/3rd world villages and they sponsor kids in other countries like this. But they still think most kids live like they do, with the same access to opportunities and resources that they have. 

And the fact that these number just seem wrong to me probably means I am just as deluded as they are – except I don’t have the excuse of still being a child…

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About Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.
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