Fairfax just can’t get tax…

Here they go again

Labor drew up a comprehensive suite of tax measures, including increasing taxes on cigarettes, multinational firms, superannuation and investment housing.

So according to a “senior economics writer for Fairfax Media”, a “comprehensive suite” of tax measures is:

Increaing the excise on one product;

Make a change to thin capitalisation safe harbours;

Reduce a threshhold from $300k to $250k (Division 293 tax);

Only allow $75k a year to come out of super tax free each year;

Changing a rate of a concession from 50% to 25% (CGT discount); and

Limiting debt deductions that salary and wage earners can use (negative gearing).

Go have a read of the Henry Review and compare a “comprehensive suite” of tax changes to this list. 

I have to stop reading Fairfax on tax…

By Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.

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