Potential tax system changes: A user’s guide

A lot has been written about possible tax changes this week. Here are the most likely moves.

Summary: Here is a form guide to future changes to our tax system. Treasury is now writing sensibly about superannuation, although I do think we will get a tax on super income in pension mode. I don’t think dividends will become fully taxable as this would create a huge backlash. In terms of negative gearing, I think a curb to the amount of interest that can be offset against salaried income is likely, but this cannot happen unless both major political parties agree.

Key take-out: What Treasury really wants is to lift the GST and lower income and company taxes, but any party that advocates higher GST at present is almost certain to lose the election.


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