Australians for Prosperity (A4P) has launched a major campaign to oppose the Federal Government’s proposed tax on unrealised capital gains, a policy that threatens the financial security of millions of Australians.‍‍

‍

The grassroots movement is focused on safeguarding the aspirations of hard-working Australians and promoting policies that encourage economic freedom and empower individuals to succeed.

‍

“A family savings tax on unrealised capital gains would be a disaster for aspiration, incentives to save, and the future prosperity of Australia,” Julian Simmonds said, Executive Director of A4P.

‍

“Australians work hard to save for retirement and their families. When the Government threatens those savings, they push back. In 2019, Australians rejected Labor’s attack on selffunded retirees and their savings.”

‍

“Now they face an even bigger threat on their hard-earned family savings, that’s why we’ve launched A4P.”

‍

This change would force Australians to pay the equivalent of a 30% income tax on assets, with the risk of double taxation when the asset is eventually sold. The tax is not indexed, meaning more Australians will be caught out over time as natural inflation pushes more superannuation balances above the threshold.

‍

"This policy allows the government to plunder the hard-earned savings of Australians, treating their retirement funds as a treasure chest to support its addiction to spending," Simmonds said.

‍

“We are committed to completely stopping this unfair change that will see families forced to sell their businesses, farms put up for sale, and people working harder for longer just to cover the tax bill.”

‍

“Families are already grappling with a cost-of-living crisis and declining homeownership. This new tax threatens the prospect of a secure retirement.” A4P’s analysis of over 100 submissions to two Parliamentary inquiries shows overwhelming opposition to the tax.

‍

“Nearly 60% of submissions strongly opposed the tax, with 25% calling for amendments to make it fairer,” Simmonds said.

‍

“Key concerns included fairness, complexity, and liquidity.”

‍

“Top recommendations were to exclude unrealised gains, index the tax threshold to inflation, and simplify compliance.”

‍

A4P’s grassroots donor network will drive the No Family Savings Tax campaign, marking the start of a broader pushback against policies undermining Australia’s future prosperity.

‍

“We’re building a modern campaign infrastructure to reclaim the narrative, empower Australians, and fight for a more prosperous future,” Simmonds said.

‍

“For too long, the political agenda has been dominated by those pushing for more regulation, taxation, and greater government.”

‍

“A4P stands against these activist-driven policies that jeopardise our future. We offer a more promising path forward — one that rewards hard work, encourages aspiration, promotes prosperity, and safeguards financial security.”

‍

For more information or to join the fight against the Family Savings Tax, visit https://www.nofamilysavingstax.com and https://www.australiansforprosperity.com.