Spender’s plan proves we desperately need independent tax policy

It’s been just over 20 years since Wentworth’s previous member launched Independent MP Allegra Spend followed suit with the first of a series of “white papers” on the overhaul of Australia’s tax system, an article that shamed the government’s reluctance to reform tax.

First It aims directly to promote intergenerational equality and labor productivity by proposing a significant cut in income taxes. The price for this – the package is revenue neutral – comes from changes to the capital gains tax credit, increases to investment income tax, By placing restrictions on negative gearing and bringing pension tax more in line with income tax, with a fixed deduction.