Published • loading... • Updated
MP touts tax reform blueprint as Treasury mulls changes
Allegra Spender proposes $28 billion in personal income tax cuts funded by higher taxes on capital gains, negative gearing, and trusts to address intergenerational equity and boost productivity.
- On Wednesday, Independent MP Allegra Spender will unveil a personal-tax white paper at the National Press Club, proposing almost $30 billion in income-tax cuts funded by higher asset taxes, benefiting a person on $100,000 by $1643 annually.
- After the 2025 reform roundtable, Treasurer Jim Chalmers directed Treasury to study reforms because younger workers bear a larger share of the tax burden as the population ages.
- The package would cut marginal rates while delivering immediate fiscal effects: in its first year, workers would pay $28 billion less in personal income tax, with nearly $130 billion saved over four years.
- Chalmers is weighing the proposals ahead of the May 12 budget, which he says will focus on lifting productivity and reducing government spending amid projected deficits.
- Critics noted the potential effect on investment and housing costs, with Robert Carling warning the CGT discount could raise transaction tax rates by 100 per cent and economists cautioned about revenue loss.
Insights by Ground AI
Podcasts & Opinions
9 Articles
9 Articles
Small business investment, trust structures singled out in Spender tax proposal
Teal MP Allegra Spender says capital gains tax reform, and a major overhaul to the way family trusts are taxed, would make the system fairer. The post Small business investment, trust structures singled out in Spender tax proposal appeared first on SmartCompany.
Coverage Details
Total News Sources9
Leaning Left5Leaning Right1Center2Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 25%
12%
Factuality
To view factuality data please Upgrade to Premium






