Shadow treasurer Chris Bowen believes the federal government should urgently release the mid-year budget review, which he says is becoming more of a mini-budget than an update.

Treasurer Joe Hockey and Assistant Treasurer Arthur Sinodinos are due to ditch a host of unlegislated tax proposals that have been stuck in the pending tray dating back to 2001.

Of the 92 unlegislated and unresolved tax and superannuation changes outstanding, the government will proceed with just 18, while a further three initiatives will be significantly amended.

The government will "definitely not" proceed with seven initiatives including the former Labor government's $1.8 billion change to the fringe benefit tax on cars - a pledge made during the election campaign - because of the impact it will have on the car industry.

It will also scrap a proposed tax on superannuation pension earnings above $100,000.

Senator Sinodinos will lead consultations on the remaining 64 measures with a disposition not to proceed with them.

The government is already getting rid of the carbon tax, as well as the mining taxes and most of the initiatives tied to it.

"The government's priorities and values are just wrong," Mr Bowen said in a statement.

He said it is giving tax breaks to 16,000 people with super balances of more than $2 million, while reimposing super tax for millions of low- and middle-income earners.

It is also giving large multinational businesses a tax break while increasing the tax burden on small businesses.

He again called for the release of the mid-year economic and fiscal outlook.

"It's actually not just an update anymore, it's Joe Hockey's mini-Budget."

Australian Greens Leader Christine Milne said the government had campaigned on there being a budget emergency.

"The budget emergency has gone missing since the election," she told reporters in Hobart.

"This is yet another way of attacking and making life harder, and with greater pressure on poorer people in Australia and letting the rich off the hook.

"How is that fair?"

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel