In our May 2018 special edition newsletter, we discussed the tax policies of the major political parties in Australia at that time. This was back when newspapers and online media were fervently covering the major issue being proposed by the Labor party; that of cancelling tax refunds arising from excess imputation (or franking) credits.
As the Federal election is drawing ever nearer (and the prospect of a change in Government seems ever more likely!) we thought that we should revisit some of the more significant policy proposals as some of you may be substantially affected by them if they become law (and could apply from 1 July this year!)
Bob Deutsch Senior Tax Counsel of the Taxation Institute of Australia recently said “The next Federal election is looming as one of the most important elections in recent times particularly having regard to the differences between the two alternatives on tax policy.”
We have summarised the major parties tax policies for you and given some brief explanations in each of the following links: