Slap for exemptions in Labor ‘tax grab’

Original article by Joe Kelly
The Australian – Page: 5 : 11-Aug-17

The Federal Opposition has been attacked over its plans to exempt farmers from its proposed crackdown on the taxation of discretionary trusts. Labor has claimed that its proposed changes will raise $A17 billion over 10 years. Shadow treasurer Chris Bowen says the exemption of farmers is warranted on the grounds that their income fluctuates. However, Small Business Minister Michael McCormack says the same argument could be made for small business owners, and Labor is not planning to exempt them from its changes.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

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