Radical proposal,which was revealed by Guardian Australia on Tuesday, would allow states to raise or lower special levy on income tax rate Malcolm Turnbull has confirmed he is proposing to give the states a share of income tax – and in time the power to increase their tax purchase – in a major shakeup he says will halt the depressing blame game” and fix the “core problem” of the Australian federation.
As revealed by Guardian Australia on Tuesday the radical plan involves lowering federal income tax by a certain percentage, or allowing the states to levy an income tax surcharge at the same rate as that reduction,and reducing commonwealth grants to the states by the amount raised. Continue reading...
Source: theguardian.com