La­bor shift on tax cuts

The Courier-Mail - - NEWS -

OP­PO­SI­TION Leader Bill Shorten has flagged ex­tend­ing the tax cuts for low and mid­dlein­come earn­ers to higher in­comes, in a ma­jor pol­icy shift.

Mr Shorten said while tax re­lief for peo­ple earn­ing less than $120,000 a year was most im­por­tant, he would con­sider re­forms for higher earn­ers.

The pol­icy shift fol­lows an ear­lier an­nounce­ment of sup­port for the Mor­ri­son Gov­ern­ment’s plan to fast-track small busi­ness cuts. As a re­sult, small busi­nesses will see their com­pany tax rate fall from 30 per cent to 25 per cent in 2021.

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