Money Magazine

Labor wins the next election and delivers its promises

WHAT WE KNOW SO FAR

Unlike former Labor leader Bill Shorten, Anthony Albanese is largely running a small-target strategy with no big controversial tax reforms. Instead, he is emphasising Labor’s traditional edge in areas like health and education.

Labor formally dumped Shorten’s controversial tax reforms, such as planned cuts to negative gearing and the capital gains tax discount, and the abolition of refundable franking credits, last July. It also committed to the government’s planned third round of tax cuts in 2024, which will largely benefit higher income earners.

While more policy detail will inevitably come out

You’re reading a preview, subscribe to read more.

More from Money Magazine

Money Magazine1 min read
Worthy Of Display
Dinosaur Designs bridges art and nature with this gorgeous Wide Paradise vase in Grape – the scalloped edge makes it positively tulip-like. The 20.5cm-high resin vase can hold a bunch of beautiful flowers or stand alone as a sculptural piece. How muc
Money Magazine4 min read
Juggling Act Facing Part-timers
The superannuation system was set up decades ago when secure employment and regular wages were the norm. Today, casual jobs and short-term contracts are widespread, leading to gaps in workers’ retirement savings. It’s common for older workers, 60 and
Money Magazine1 min read
Why The Gym Should Be Tax Deductible
The Australian government uses the tax system to encourage us to invest in our superannuation to reduce dependency on the age pension when we retire. Similarly, it uses the tax system to encourage us to take up private health insurance to reduce dema

Related Books & Audiobooks