Aussie billionaires rake in $100m each day

Oxfam Australia has called for tax reform to close the growing wealth gap between the country's rich and poor.

A homeless woman sits on a street corner in central Brisbane Source: AAP/Dan Peled

Australia's billionaires saw their combined wealth grow by $100 million a day last year, Oxfam has revealed as it called for tax reform to close the growing gap between rich and poor.

The nation has 43 billionaires worth $160 billion between them, while the top one per cent of Australians have more wealth than the bottom 70 per cent combined.

"Oxfam Australia is concerned there is no end in sight to this harmful trend that is concentrating ever more wealth in the hands of the already rich and powerful," the charity's chief executive Helen Szoke said on Monday.

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