State capture: Labor ignores the most painless and justified tax rise of all


Labor’s ‘modest and responsible’ tax changes will leave one of the greatest rip-offs in Australian history untouched.

Shadow treasurer Jim Chalmers (Image: AAP/Mick Tsikas)

“Modest and responsible” is how Labor describes its plan to increase the tax take from multinational corporations by limiting deductions and implementing the OECD’s 15% minimum tax.

Along with its cut to public service consultant spending and an end to the Coalition’s rorting and pork-barrelling, it forms the centrepiece of the opposition’s decidedly unambitious fiscal plan.

The multinational crackdown will raise just $1.89 billion over the forward estimates, partly because of a delayed introduction until 2023.

Read more about how Labor’s tax policy won’t stop the rip-offs.

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