Labor's Push for Tax Reform: A Timely Resolution In a bid to address the country's tax system, the Albanese government is racing to finalize its plan to reform taxes on capital gains. Labor frontbencher Clare O'Neil has emphasized that the government is working towards a swift resolution, prioritizing policy over politics. O'Neil's comments come as the government seeks to tackle the complexities surrounding the tax reform, with the goal of achieving a "right landing point" for the policy. According to Treasury modelling, the government's proposals are expected to boost completion rates by 420,000, a significant improvement over the current numbers. As the government navigates the intricacies of tax reform, observers will be watching closely to see if they can meet their deadline and deliver a comprehensive solution.
Meanwhile Marles tells Shangri-La Dialogue delegates that ‘seabed is a battlefield’. Follow updates liveGet our breaking news email, free app or daily news podcastClare O’Neil says the Albanese government wants to work quickly to iron out the issues in its plan to reform taxes on capital gains.The Labor frontbencher has just told Insiders:We need to land this. We’ll do that in the appropriate time given the need … This is not a political timeline. It is a policy timeline. … It’s important this gets resolved speedily and that’s what the Government is working forwards.I think there’s a range of things that are on the table in those conversations and I won’t speak to them about in detail. …The Government wants to get the right outcome here and we are not going to be driven by the politics of the moment. It’s really important we reach the right landing point for this and I think I have spoken in previous interviews this week about some of the issues we see.There’s a lot that goes into completion rates. What I can tell you is that government policy is going to lift those numbers by 420,000, based off what they would otherwise be. That’s what the Treasury modelling tells us. Continue reading...
