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Ghost from the past: Kevin Rudd is making a big mistake reviving an old tax debate
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April 26, 2021 11.59am
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With the iron ore price nudging $US180 a tonne it isn’t surprising that there has been a renewed call for a super profits tax on the iron ore miners.
Last week former prime minister Kevin Rudd argued for a “super profits levy” on iron ore miners, accusing them of greed and of a “giant rip-off of the Australian people.”
Kevin Rudd has accused Australia’s iron ore miners of greed and of a “giant rip-off of the Australian people.”
Ghost from the past: Kevin Rudd is making a big mistake reviving an old tax debate
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April 26, 2021 9.59am
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With the iron ore price nudging $US180 a tonne it isn’t surprising that there has been a renewed call for a super profits tax on the iron ore miners.
Last week former prime minister Kevin Rudd argued for a “super profits levy” on iron ore miners, accusing them of greed and of a “giant rip-off of the Australian people.”
Kevin Rudd has accused Australia’s iron ore miners of greed and of a “giant rip-off of the Australian people.”
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Millions of Australians would be able to stop collecting receipts in shoeboxes under a proposal to reform the personal tax system as the federal budget bottom line recovers from the coronavirus recession more quickly than expected.
The idea, first examined in detail in the 2009 Henry tax reform, would entitle all Australians to a $3000 annual standard tax deduction. Centrist think tank the Blueprint Institute argues this would benefit low and middle-income earners while delivering an economic stimulus.
Up to 80 per cent of Australians would get a tax cut under a proposal to move to a $3000 standard deduction for the annual tax return.
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