Labor has released new costings showing that its $3,000 cap on deductions for tax advice would raise $375 million over the next three years and $1.6 billion over the next decade, while also showing that its policy would primarily impact high income earners. From The Age:
Australian Taxation Office (ATO) data from 2016-17, the latest available year, shows the current system is being used by high-income earners to sharply reduce their tax.
