Labor says Turnbull government should not have frozen indexation of family tax benefits to pay for childcare packageLabor is calling on the Turnbull government to extend the temporary budget deficit levy, saying if it is removed it will give millionaires a $16,400 tax cut when the deficit is still $37bn. Julie Bishop says Australia preparing for Isis to declare 'caliphate' in southern Philippines Read moreChalmers said the government could have extended the temporary budget deficit levy, which is due to expire on 30 June. The budget deficit levy was introduced in Tony Abbott’s 2014 budget, imposing a 2% levy on personal income earned over $180,000. “If that deficit levy was necessary in 2014, when the deficit was only $11bn, it’s more than necessary now that the deficit is $37bn. True to form, they chose to attack the most vulnerable families on family tax benefits rather than continue the deficit levy.”But when asked if a Labor government would maintain the deficit levy until the deficit was abolished, Chalmers wouldn’t answer the question directly.

Source: The Guardian March 26, 2017 01:52 UTC