Australians face renewed warnings that an inheritance tax is increasingly inevitable as the nation braces for a massive $5.4 trillion intergenerational wealth transfer from Baby Boomers.

Conservative leader Kemi Badenoch has united her party at its Birmingham conference, unveiling a sweeping policy blueprint featuring inheritance tax exemptions.

Unused pension funds and death benefits will be included in estate valuations for inheritance tax from April 2027, altering retirement and estate planning.

Conservative leader Kemi Badenoch has unveiled a package of tax cuts, pledging to abolish inheritance tax on family homes and scrap stamp duty.

Prime Minister Andy Burnham is facing political backlash over a wave of unfunded tax cuts and revived proposals for a major social care estate levy.