Turnbull flags tax cuts as IMF talks of a year of steady interest rates
Prime Minister Malcolm Turnbull has flagged tax cuts for millions of Australians in the lead-up to the next federal budget, or sooner if an election is called early next year.
In a move that will draw clear battlelines between the Coalition and Labor ahead of the election, Mr Turnbull told a Business Council of Australia dinner in Sydney that work on the tax cut was already under way.
"You know our plans on corporate tax. In the personal income tax space, I am actively working with the Treasurer and my cabinet colleagues to ease the burden on middle-income Australians, while also meeting our commitment to return the budget to surplus," he said.
Tax cuts could be announced in the May budget or earlier in the December mid-year budget update if Australia was going to an early poll.
The Asia-Pacific chief of the International Monetary Fund, Thomas Helbling, in Australia for consultations with the Treasury and Reserve Bank, said income tax cuts were best funded by increases in indirect taxes such as the goods and services tax and land tax or by removing "generous tax concessions".
As luck would have it, I was listening to 6pr this morning and gareth parker was interviewing Mike Willisee , and " the cake ", and hewson, tragically highly intelligent , just couldn't get the message across. ( my words not his ).
