Pretty happy with Shorten’s budget response. A more progressive approach to increasing the Medicare Levy, and maintaining the budget deficit levy are both good moves. There’s also zero justification for the company tax cuts proposed by the Liberals, so happy to see opposition to those.
The idea of a cap on the deduction for managing tax affairs is a good one, but they could (and should) take this further and extend a cap on a wide range of deductions, which would go some way to reducing the unfairness in the system.
Labor says it will back the Turnbull government’s plan to increase the Medicare levy by 0.5%, but only if the hike applies to workers earning above $87,000. Bill Shorten has used his budget reply speech to say Labor can accept an increase in the Medicare levy for workers in the top two tax brackets to fund the National Disability Insurance Scheme, but not for workers on incomes as low as $21,000.