Local News

Tax tinkering after community feedback

April 05, 2018

THANK you to everyone who's been in touch over the past few weeks about Labor's proposal for a fairer tax system.

 

I'm pleased to say we've taken all the feedback on board, including from many people in our own local community, and made some changes to make sure pensioners are exempted from our policy.

 

Our change closes down a loophole that gives cash refunds for excess tax credits received with dividends from company shares.

 

Every recipient of an Australian Government pension or allowance with individual shareholdings will still be able to benefit from these cash refunds.

 

I understand the policy will still have an impact on others and want to ensure people in our local community that we did not take this decision lightly. This tax concession has grown rapidly since it was introduced and will cost the budget $8 billion a year.

 

We think our changes strike a fair balance between reigning in unfair tax concessions which improves the Commonwealth Budget and ensuring low-income people are protected in retirement.

 

Our changes will help fund more resources for local schools and the Logan Hospital. We are also fighting to protect the pensioner energy supplement, stop plans to increase the pension age to 70, and unfreeze the Medicare rebate.

 

This article first appeared in the Albert & Logan News on 5 April 2018.

WE'LL PUT PEOPLE FIRST