In May 2017, Labor announced that it would seek to introduce a cap on managing tax affairs if it came into government, in a bid to raise $1.8 billion over a decade.
Read more at the Accountants Daily.
90k taxpayers tipped to be worse off in ‘outrageous’ $3k tax advice cap
Labor’s plan to introduce a limit deductions for the cost of managing tax affairs to $3,000 will likely cause fee pressure and see clients limit their advice to a dollar amount, tax experts have argued.
