tony abbott - true to type, page-5

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    "If Abbott was serious about the deficit he has much simpler options available to him such as reducing superannuation benefits for the wealthy, getting rid of negative gearing. Such measures would deal with the issue in a heartbeat."


    "And note this. Hockey justified his exclusion of the cost of superannuation tax concessions from his efforts to curb the allegedly unsustainable growth in the cost of population ageing by saying tax expenditures would be considered as part of the coming review of taxation. In truth, he did fiddle with tax expenditures when it suited him (the mature age worker tax offset and the dependent spouse tax offset).

    See what this means? If the Coalition ever does get around to reforming the concessional tax treatment of super, capital gains and negative gearing - each benefiting mainly high income-earners - it will do so not as part of the effort to balance the budget, but as part of a revenue-neutral tax reform package where the savings are used to (I bet) cut the top tax rate, with increased collections from the GST shared between the premiers and a lower rate of company tax."

    Read more: http://www.smh.com.au/business/less-to-budget-than-meets-the-eye-20140518-38hut.html#ixzz327Bv2SV1
 
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