Labor to target overseas tax haven loopholes and 'citizenship shopping'
Tom McIlroyPolitical correspondent
Labor will move to end travel allowances for known overseas tax havens and stop citizenship shopping by requiring Australians with foreign residency to report to the Tax Office.
Shadow assistant treasurer Andrew Leigh will announce plans to close a loophole that allows wealthy employees to receive allowances of up to $2000 tax-free for trips to nearly 30 countries including the Bahamas, Bermuda, Barbados, the Cayman Islands and Monaco.
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Tom McIlroy is the Financial Review's political correspondent, reporting from the federal press gallery at Parliament House. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
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