Wealth transfers
$1.5 TRILLION
the total value of wealth transfers made by Australians between 2002 and 2018, including …
$1.3 TRILLION
worth of inheritances and $155 billion in gifts
Source: Productivity Commission, 2021
The desire many parents have to help their children financially doesn't suddenly disappear when their kids turn 18. Financial support is often ongoing and it can take many forms, from allowing adult children to live at home rent free to helping with education costs.
For some, that help goes even further. Thanks to the soaring cost of buying a home in Australia, it's not uncommon for parents – if they can afford it, of course – to chip in for a deposit or to cover the cost of lenders mortgage insurance
