Trea­surer says ALP’s tax plan hurts work­ers

The Australian - - SLOW BOAT TO CHINA - ADAM CREIGHTON

More than 60 per cent of tax­pay­ers who made cap­i­tal gains had tax­able in­comes of $80,000 or less, pre­vi­ously un­pub­lished tax of­fice data has re­vealed, as Josh Fry­den­berg stepped up his cam­paign to high­light the ex­tent of those af­fected by La­bor’s bevy of pro­posed tax in­creases.

The Trea­surer said these tax- pay­ers, in­clud­ing 194,000 with tax­able in­comes in the mid­dlein­come bracket from $37,000 to $80,000, would have been ad­versely af­fected by La­bor’s bid to re­duce the cap­i­tal gains tax dis­count from 50 to 25 per cent.

Tax looks to be the key bat­tle­ground in the up­com­ing fed­eral elec­tion, with La­bor propos­ing to lift tax on high-in­come earn­ers while pro­vid­ing a $928 cut for those earn­ing up to $125,000.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.