The latest ranking of revenue foregone shows the usual suspects topping the list
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Concessions for superannuation cost the federal budget almost $50bn a year while rental deductions, much of them for negative gearing, have jumped by more than half in three years, the annual treasury summary of tax expenditures shows.
The ranking of revenue foregone in 2023-24, released on Wednesday, was headed by many of the usual groups, finding for example that shielding taxpayers’ main residence from capital gains taxes, saved them a combined $47.5bn for the year, up about a third from 2018-19.
Continue reading…The latest ranking of revenue foregone shows the usual suspects topping the listGet our morning and afternoon news emails, free app or daily news podcastConcessions for superannuation cost the federal budget almost $50bn a year while rental deductions, much of them for negative gearing, have jumped by more than half in three years, the annual treasury summary of tax expenditures shows.The ranking of revenue foregone in 2023-24, released on Wednesday, was headed by many of the usual groups, finding for example that shielding taxpayers’ main residence from capital gains taxes, saved them a combined $47.5bn for the year, up about a third from 2018-19.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…