Labor’s tax grab faces Senate block

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Dec-18

Labor may not have sufficient support in the Senate for its proposal to abolish cash refunds for excess dividend imputation credits if it wins the 2019 federal election. Labor would require the support of the Greens and four crossbenchers to pass the reforms before the current Senate is dissolved on 30 June. However, nine of the 10 crossbenchers oppose the policy, with Fraser Anning describing it as a "socialist retiree tax". In addition, none of the current senators support Labor’s proposal to restrict negative gearing to new homes, although some favour capping the number of properties that can be negatively geared.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, CENTRE ALLIANCE

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