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Death taxes off the cards under Labor: Shorten
Leader of the federal opposition, Bill Shorten, has blasted speculation that his party will introduce death taxes if they are elected to government in May.
Death taxes off the cards under Labor: Shorten
Leader of the federal opposition, Bill Shorten, has blasted speculation that his party will introduce death taxes if they are elected to government in May.
Earlier this year, federal Treasurer Josh Frydenberg said death taxes are a possibility under the Labor Party.
“I want to call out the latest bit of rubbish from the government lie machine, and that is the so-called death tax,” Mr Shorten said this week.
“Labor has never had any plan for a death tax under my leadership,” he said.
Death duties were abolished in Australia in 1979 under prime minister Malcolm Fraser. However, death benefit taxes are still payable in a superannuation environment, which you can read about in more detail here.
What are Labor’s plans?
In its response to the federal budget earlier this month, the Labor Party laid out its plans should it be elected to government on May 18.
This includes changes to negative gearing and capital gains tax, reforming the franking credits regime, and investing over $2 billion in Medicare and medical funding to support cancer patients.
You can read about the Labor Party’s plans in detail here.
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