L-plate Treasurer, Josh Frydenberg, is now claiming that low and middle-income earners would bear the brunt of Labor’s proposed capital gains tax reforms. According to Frydenberg, some 194,000 so-called middle-income earners had a capital gain in 2016, compared with just 70,635 people whose taxable income exceeded $180,000. From The Australian:
“Bill Shorten is proposing a tax on entrepreneurship, investment and wealth creation,” Mr Frydenberg said. “It’s an inconvenient truth for Labor that its policy will hit more individuals on low and middle incomes than those on higher incomes”…
