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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.
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9 Articles

Sydney Morning HeraldSydney Morning Herald
+2 Reposted by 2 other sources
Lean Left

Slash income tax, lift it on assets: Spender’s plan for tax reform

The first plan for a broad-based overhaul of the tax system in 16 years has been put forward by teal independent, Allegra Spender.

·Sydney, Australia
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PerthNowPerthNow
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illawarramercury.com.auillawarramercury.com.au
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MP touts tax reform blueprint as Treasury mulls changes

Economists and politicians are urging Treasurer Jim Chalmers to go bold in the budget, with reform that cuts income taxes for workers.

·City of Perth, Australia
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illawarramercury.com.au broke the news in on Tuesday, March 10, 2026.
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