Labor's introducing two large new taxes in the carbon tax and the MRRT along with a range of other tax increases, but still suffers from budget blowouts as evidenced in today's mid-year review and consequent changes,
One lie that will never see the light of day under Labor even though it's their own policy and the partial recognition of it's own Henry Tax Review is the 50 per cent tax discount for interest income,
http://www.abc.net.au/news/2011-11-2...update/3701142The start date of the 50 per cent tax discount for interest income will be deferred until 1 July 2013, allowing more time for consultation with stakeholders on issues previously raised by industry.
It's not the first time it's been delayed. It was originally to start on July 2011.
From the ATO,
http://www.ato.gov.au/individuals/co...tm&page=10&H10From 1 July 2011, the Government will provide individuals with a 50 per cent tax discount on up to $1,000 of interest earned by individuals, including interest earned on deposits held in authorised deposit taking institutions, bonds, debentures and annuity products.
If this government spent less money on failed policies, bribes to satisfy the Greens and independents and other general crap, it might have actualy been able to honour its electoral bribes.