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A Treasury paper has revealed Australians earning more than $200,000 a year are more likely to benefit from tax breaks, especially if they are renting out or selling an investment property.
The industry body has issued a host of recommendations in response to the Commonwealth's proposed changes to concessional tax thresholds, which include a call to extend the “extremely short” consu
Treasurer Jim Chalmers has flagged a ‘public conversation’ about Australia’s current fiscal settings, with economists pointing to tax reform as a major priority.
Asked to find an extra $20 billion per year to fund government priorities, economists overwhelmingly taxes and an attack on negative gearing.
Asked to choose the fairest ways to raise billions, half of the economists backed introducing inheritance taxes. Around a third chose winding back super tax concessions and increased resource taxes.