By Matthew Li
Opposition Leader Bill Shorten has pitched his idea of doubling the tax rate to high income earners.
This comes after the Federal Turnbull Government wants to introduce a $500,000 lifetime on super-tax superannuation contributions, backdated to 2007.
Though Mr Shorten agreed with The Liberal Party’s plans to change that limit, currently set at $180,000 a year, however Mr Shorten wants the superan-nuation cap to take effect from their last budget night rather than the Liberal backdated cap to 2007.
Under Labor’s idea, Mr Shorten wants to lower the
super contribution threshold so that anyone earning over $200,000 a year will pay 30 per cent tax on their contributions rather than the 15 per cent that the Liberals are planning to hold the cap on.
He also suggested some points Mr Turnbull and his Liberal team should use, such as nega-tive gearing, tax deductions and discount, which the Liberals felt it wouldn’t help improve Australia during the latest fed-eral election last month.
Mr Shorten today concluded his speech aiming at Mr Turnbull over a lack of contribution.
‘‘They don’t give us the de-tail,’’ he said.
‘‘Have you ever heard of some-
one negotiating by getting a microphone and just saying ‘trust us’?’’
Parliament House will return next week after a long a month and half off following the latest federal election.
Bill Shorten responds to Mr Turnbull’s call on Budget cuts, outlines $80 billion in savings