Higher taxes on family trusts and electric vehicle drivers are expected to be proposed by Treasury as options for Jim Chalmers to meet his objective of raising revenue to pay for income tax cuts and bolster the federal budget.
Other revenue raising options to be put to the treasurer by stakeholders ahead of a productivity roundtable in August include winding back the 50 per cent discount on capital gains, curtailing franking credits as a trade-off for reducing corporate tax, and higher taxes on mining, energy and carbon, according to tax experts.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Paul Karp is The Australian Financial Review’s NSW political correspondent.
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
