‘A direct attack on the profession’: Labor called to ditch $3k deduction cap on tax agent fees
Federal Labor has been urged to come clean on its plan to introduce a $3,000 deduction cap for managing tax affairs, a week after it dumped plans to curb negative gearing and capital gains tax deductions.
The federal opposition first introduced the policy in 2017 after finding that 48 individuals earned more than $1 million but were able to reduce their taxable incomes below the tax-free threshold by claiming over $1 million in deductions for the cost of managing tax affairs
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