Join us in calling on the government to Make Tax Fair:
Make big corporations, making super profits at times of crisis, give back to the community through a crisis profits tax
Make billionaires and the super-rich pay their fair share of tax to tackle inequality
Stop handing out billions in fossil fuel subsidies and make big coal, oil and gas corporations pay for their climate damages
Today, extreme wealth is growing exponentially while nearly 700 million people still live in extreme poverty
Around the world, in the wake of the COVID-19 pandemic, the Russian war on Ukraine and in the midst of a cost-of-living crisis, more people are going hungry and struggling with rising prices, while real wages are declining. People living in extreme poverty are being hit the hardest.
Meanwhile, big corporations are making huge profits and billionaire wealth is skyrocketing.
Big Australian corporations together made an extra $98 billion in profits off the back of the crises, at the cost of everyday people.
The billionaire owners of these corporations are also getting richer.
In Australia, billionaire wealth has increased by 71% or $120 billion since 2020
Globally, billionaires are almost $5 trillion wealthier than in 2020, while global poverty has stagnated at pre-pandemic levels.
The system is unfair and favours big corporations and billionaires. But we can fix it.
Make billionaires and big corporations pay their fair share
In East Africa, as a result of conflict, rising food prices, and drought and flood caused by climate change, millions of people face hunger and are being forced from their homes. Nearly 700 million people live in extreme poverty across the world.
Meanwhile, billionaires are making massive profits during times of crisis, adding to their lavish lifestyles – private jets, multiple mansions and super yachts, which are also fuelling climate destruction.
Such extreme inequality shows our economic system is failing humanity. But we can fix it. Billionaires and big corporations who have benefited from an unfair system must pay their fair share.
Extreme inequality is no accident
Many big corporations pay little or no tax in Australia, and receive cash handouts from the government, despite making gob-smacking profits year on year.
A nurse pays more tax than most of the biggest energy companies in Australia, most of whom paid zero company tax in 2020-2021, despite making billions in income
As a result, wealth inequality has reached extreme levels. In the past decade, the richest 1% of Australians have accumulated 10 times more wealth than the bottom 50%. That’s more than $2,500 per second for 10 years straight.
Tackle inequality. Let’s make tax fair
We all want to live in a society where everyone is able to keep a roof over their head, food on the table and to live with choice, dignity and equal opportunity. At Oxfam, we are striving for a fair and equal future without the inequalities that keep people in poverty.
To ensure there is enough money in our budget to pay for the services everyone needs and cherishes, the super-rich need to pay their fair share of taxes.
By increasing the Australian Government’s tax revenue, there will be more money available to fund better quality healthcare, education and action on climate change as part of a strong social safety net to alleviate poverty at home and abroad.
All lives are equal. Let’s fight for a society without the inequalities that keep people in poverty.
MAKE TAX FAIROur campaigns
Make corporations pay their fair share
Many big corporations are making super profits, often during times of crisis. Its not fair that they rake it in, while the rest of us struggle with the cost of living. Its time they gave more back to the community through a crisis profits tax.
Bill the billionaires. Fight inequality.
A wealth tax on Australia’s richest would generate $32 billion annually. This would help balance the scales on inequality and ensure there is money in the budget for essential services like health and education, and to eradicate poverty.
Make Polluting Corporations Pay
Big energy corporations and billionaires are most responsible for the climate crisis. It’s time to tax rich polluters, end fossil fuel subsidies and use the funds to support communities already experiencing the destructive impacts of climate change.
Read our reports
Cashing in on Crisis
In 2022-2023, top 500 Australian corporations raked in $98 billion in additional windfall profits, or ‘crisis profits’, that they wouldn’t have made under normal circumstances. These profits are part of a wider crisis-fuelled inequality story, where billionaires were able to increase their wealth and boost their bank balances while the rest of us endured rising costs of living.
Inequality Inc
The wealth of the three richest Australians, Gina Rinehart, Andrew Forrest and Harry Triguboff, has more than doubled since 2020 at a staggering rate of $1.5 million per hour, while 5 billion people find themselves poorer. These are some of the stark findings of Inequality Inc, an Oxfam flagship report launched ahead the 2024 annual meeting of the World Economic Forum.
Climate Equality: A Planet for the 99%
The richest 1% emit as much carbon pollution as two-thirds of humanity. This is just one of the shocking findings of Oxfam’s landmark ‘Climate Equality: A Planet for the 99%’ report released ahead of the annual United Nations international climate change conference COP28.
Survival of the Richest
Oxfam revealed that the richest 1% of Australians accumulated 10 times more wealth than the bottom 50% in the past decade, as cost-of-living pressures bite and global inequality spikes.
In the News
Woolworths and Coles profits must be taxed, as Australians struggle with cost-of-living crisis: Oxfam
As Coles Group and Woolworths announce their full-year profits for 2024, Oxfam Australia is calling for urgent action to address the growing inequality in Australia by better taxing the excessive profits of big corporations. Oxfam Australia Chief Executive Officer Lyn Morgain highlighted the injustice of the supermarket duopoly’s profits as the cost-of-living crisis continues. “It’s […]
Oxfam reaction to the Rio de Janeiro G20 Ministerial Declaration on International Tax Cooperation: “this is serious global progress”
Responding to the Rio de Janeiro G20 Ministerial Declaration on International Tax Cooperation published today, Oxfam International’s Tax Policy Lead Susana Ruiz, said: “This is serious global progress —for the first time in history, the world’s largest economies have agreed to cooperate to tax the ultra-rich. Finally, the richest people are being told they can’t […]
Top 1 percent bags over $40 trillion in new wealth during past decade as taxes on the rich reach historic lows
The richest 1 percent have amassed $42 trillion in new wealth over the past decade, nearly 34 times more than the entire bottom 50 percent of the world’s population, according to new analysis by Oxfam today ahead of the third meeting of G20 Finance Ministers and Central Bank Governors in Rio de Janeiro, Brazil. Here […]
Tackle inequality. Make tax fair.
Together, we can create a fair and equal future without the inequalities that keep people in poverty. Tell the Treasurer to bill the billionaires and big corporations. Make them pay their fair share.
MAKE TAX FAIR
