Published: May 07, 2019
Crackdown will raise $375m over the forward estimates and $1.5bn over 10 years – down from initial estimate of $1.8bn
Labor will confirm later this week its proposed crackdown on tax deductions used by high-wealth individuals will raise $375m over the forward estimates and $1.5bn over 10 years – down from its initial estimate of $1.8bn.
The estimate, to be revealed when Labor outlines its final campaign costings in the coming days, comes as tax data shows 69 people in 2016–17 earned over $1m but paid no tax, and 27 claimed costs of managing tax affairs at an average of $607, 201 each.
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