One Nation’s Pauline Hanson has blasted a suggestion that the government should consider inheritance taxes for the rich, declaring the idea “left-wing”. Incoming Productivity Commission boss Danielle Wood controversially urged the federal government to have a “sensible conversation” about inheritance taxes on Monday, while acknowledging the policy is “political dynamite”.Continue Reading
A former Treasury boss who led the last major review of Australia’s taxation system says the controversial stage three tax cuts that will benefit the highest earners should stay. Ken Henry says he understands why politically it would be a good call to axe the cuts due to come intoContinue Reading
A plan to slash tax concessions on superannuation balances above $3m has been slammed as a disingenuous attack on the well-off. Independent MP Zali Steggall questioned whether the policy, which would see the tax rate on earnings double from 15 per cent to 30 per cent, was a targeted “classContinue Reading
A modest change to the way superannuation earnings are taxed has opened the doors to a political firestorm. Opponents have sounded alarm bells about the government’s refusal to index the $3m threshold and confusion over unrealised capital gains. But what does that all mean? And specifically, what does it meanContinue Reading
Anthony Albanese has slammed the door shut on a future change to a tax break on the family home after the Treasurer failed to categorically rule it out despite being asked repeatedly. Jim Chalmers was attempting to sell the government’s decision to lift taxes on superannuation funds that exceed aContinue Reading
The opposition has accused the Albanese government of walking away from an election promise after the announcement of “modest” changes to the superannuation system. Australians with more than $3 million in their superannuation accounts will have their concessional tax rate doubled from July 1 2025, in a move predicted toContinue Reading
A pair of Liberal backbenchers have broken ranks and defended Anthony Albanese over claims he has broken an election promise by reigniting a debate on superannuation. Victorian MP Russell Broadbent on Monday said he wasn’t fussed if the Prime Minister was on the verge of an election backflip but saidContinue Reading
Anthony Albanese has avoided saying whether Australians will have to pay higher taxes in the near future as he conceded his government would have to make difficult decisions in the May budget. Speaking at the National Press Club, the Prime Minister reiterated his government was facing a challenge in workingContinue Reading