Australian Politics – Labor Party Too Hungry For Your Cash

Posted on Wed 03/14/2018 by

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By Andrew Bolt ~

Australian Leader Of The Opposition Bill Shorten (Australian Labor Party)

Here in Australia, the spend-big Labor Party is saying it needs even more cash than the current record tax take for what it has in mind:  

Former Treasurer Peter Costello has warned that millions of retirees and pensioners will be hit by Bill Shorten’s plan to axe tax refunds on share investments which has opened up a new political battlefield with the Coalition.

More than 230,000 pensioners will be impacted by Mr Shorten’s move to abolish dividend imputation ­refunds — cash for tax credits — received by shareholders and super funds, with internal government figures showing more than half of those who receive a credit refund have a taxable income below the tax-free threshold of $18,200.

UPDATE

Even Labor shadow treasurer Chris Bowen admits a hell of a lot of pensioners will be affected:

“When you’re looking at the number of complete pensioners who might have any impact at all, you’re looking at about 10 per cent of part-pensioners and at most 1 per cent of full pensioners,” Mr Bowen said.

Asked how many people that meant, he said: “Around 200,000 for part-pensioners and about 14,000 for full pensioners.”

This will cost the Labor Party.

Andrew Bolt writes for the Herald Sun, Daily Telegraph, and The Advertiser and runs Australia’s most-read political blog. On week nights he hosts The Bolt Report on Sky News at 7pm and his Macquarie Radio show at 8pm with Steve Price.

Read more excellent articles from Andrew Bolt’s Blog . http://blogs.news.com.au/heraldsun/andrewbolt/

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