Shorten ups ante in tax cuts battle

Original article by Simon Benson, Rachel Baxendale
The Australian – Page: 1 & 6 : 11-May-18

Opposition Leader Bill Shorten has used his Budget reply speech to outline Labor’s proposed income tax reforms, which includes an annual tax cut of up to $A928 for people on low and middle incomes. Labor will support the first phase of the Federal Government’s tax cuts package, but tax brackets will remain unchanged beyond this. Labor has also committed to reinstating the two per cent deficit levy, which would lift the tax rate for people on the highest incomes to 49 per cent. Shorten also said Labor will reverse company tax cuts that have already been legislated if it wins the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS

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