{"id":55483,"date":"2025-08-09T13:45:40","date_gmt":"2025-08-09T13:45:40","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/55483\/"},"modified":"2025-08-09T13:45:40","modified_gmt":"2025-08-09T13:45:40","slug":"actu-wants-to-target-millionaires-property-investor-taxes-capital-gains-tax-concessions","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/55483\/","title":{"rendered":"ACTU wants to target millionaires, property investor taxes, capital gains tax concessions"},"content":{"rendered":"

Combined, the union says its ideas raise up to $25 billion in revenue that could be pumped back into services such as the National Disability Insurance Scheme<\/a> and healthcare. It also backed reforms to regulations for planning and construction to get more properties built.<\/p>\n

\"The<\/p>\n

The ACTU is proposing changes to negative gearing and capital gains tax that it believes would help younger Australians into the property market.Credit: Steven Siewert<\/p>\n

Asked whether the government was open to changing tax concessions for property investors on Sunday, Watt said its tax policies had not changed.<\/p>\n

\u201cWhen it comes to the roundtable, what we\u2019ve said is that we don\u2019t want to be unfairly limiting the kind of ideas that can be discussed, and we haven\u2019t been getting into ruling things in or ruling things out,\u201d he said.<\/p>\n

\u201cThere\u2019ll be a really terrific opportunity for all of these ideas from unions, from businesses, from think tanks, to be discussed at the roundtable. And what we\u2019re looking to do is to build consensus across the community on all of these kind of issues.\u201d<\/p>\n

But the Business Council of Australia\u2019s chief executive, Bran Black, quickly rejected the ACTU\u2019s submission.\u201cAd hoc tax grabs are the opposite of supporting higher living standards for all Australians,\u201d he said on Sunday.<\/p>\n

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\u201cThis magic pudding approach of taxing more to fix productivity should be dismissed if we are serious about solutions at the roundtable.\u201d<\/p>\n

The BCA and other industry groups also lashed a suggestion from the Productivity Commission last week to cut the company tax rate <\/a>while introducing a world-first cashflow tax.<\/p>\n

The commission will provoke industry further on Monday, when it releases its second of five reports, this time focusing on the clean energy transition. It has been an advocate of an economy-wide carbon price for almost two decades, arguing it is the most cost-effective and quickest way to reduce emissions.<\/p>\n

In its report, the commission argues for the creation of an independent agency that would effectively set the \u201cimplied carbon prices needed to meet Australia\u2019s emissions targets\u201d. Farmers and household gas whitegoods would get caught up in the commission\u2019s plan in what would prove a politically fraught move.<\/p>\n

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The commission also backs broadening the safeguard mechanism \u2013 a requirement on firms that emit 100,000 tonnes of greenhouse gases a year \u2013 and reducing the emissions limit. It says a limit of 25,000 tonnes a year would be \u201creasonable\u201d.<\/p>\n

One of the government\u2019s most popular greenhouse-cutting policies has been fringe benefits tax exemptions on electric vehicles. But the commission says such subsidies, including the FBT exemption and state stamp duty concessions, should be axed.<\/p>\n

The National Automotive Leasing and Salary Packaging Association pushed back, saying uptake was greatest in outer working-class suburbs. \u201cIt\u2019s the key national policy initiative that has driven EV demand to where it is today \u2013 without it demand would materially stall,\u201d they said.<\/p>\n

The commission also backs an overhaul of the nation\u2019s environmental laws, including the creation of stricter deadlines for energy transition projects to be approved and the creation of a bureaucrat \u201cstrike team\u201d to clear through red tape currently delaying renewable projects.<\/p>\n

Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Combined, the union says its ideas raise up to $25 billion in revenue that could be pumped back…\n","protected":false},"author":2,"featured_media":55484,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-55483","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/55483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=55483"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/55483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/55484"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=55483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=55483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=55483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}