Oakeshott urges lifting the tax-free threshold to $21,000, an investment in tax research and the formation of a tax reform board as “a couple of very real outcomes”.
Member for Lyne said: “We’re better off than we were 48 hours ago. Obviously though, this isn’t the end of it. If we are serious about getting what is a unsustainable tax setting for the next 40 to 50 years and turning it into a sustainable one, we’ve got a hell of a lot more work to do.”
A two-day forum, which ended in Canberra on Wednesday, was a part of the agreement Mr Oakeshott and fellow independents conferred with Labor in 2010 to facilitate in the formation of minority government. According to Mr Oakeshott, Labor’s stated “aim” to raise the tax-free threshold to $21,000 was important and something that could enhance the finances of many Australians.
He said: “This isn’t the 12 tasks of Hercules that’s being set by the crossbenchers on government. I recognise there are compromises and negotiations along the way.”
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