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In an audacious move, Liberal State Governments have banded together to demand compensation from a future Labor Government from any loss in revenues arising from its negative gearing and capital gains tax (CGT) reform. From The Australian:
The letter — signed by NSW Treasurer Dominic Perrottet, Tasmanian Treasurer Peter Gutwein and South Australian Treasurer Rob Lucas — warns that Mr Shorten’s tax policies will have “significant implications for our constituents and also our local economies.”
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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