Retirees to fund Labor cash spree

Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 4 : 16-May-18

It is estimated that the Federal Opposition’s tax plan would raise almost $A30bn in additional revenue over the four years to 2021-22. Labor’s proposal to scrap cash refund for excess dividend imputation credits, which primarily affects self-fund retirees, would account for $A10.7bn of this revenue, according to the Treasury and the Parliamentary Budget Office. Shadow treasurer Chris Bowen will use a speech on 15 May to emphasise that the bulk of the extra revenue will be used to reduce debt and the Budget deficit. Labor also intends to match the Coalition’s revised target of 2019-20 for achieving a surplus.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PRESS CLUB (AUSTRALIA)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s