‘Death tax’ accusations mar Labor’s budget sales pitch
The Albanese government is facing backlash over its proposed tax changes to trusts, which some are labeling a 'death tax.' Treasurer Jim Chalmers and Social Services Minister Tanya Plibersek have defended the changes, emphasizing the need for fairness in taxation. The opposition has seized on the 'death tax' narrative, reminiscent of a previous campaign that hurt Labor's standing in the 2019 election.
- ▪Treasurer Jim Chalmers announced a 30 percent tax on discretionary trusts in the recent budget.
- ▪The opposition claims the changes amount to a 'death tax', a term that has historically been politically damaging for Labor.
- ▪Social Services Minister Tanya Plibersek defended the tax changes, arguing that they promote fairness in the tax system.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.