Live: PM confirms he intervened to delay ATO credit card ban
Anthony Albanese reveals he had personally intervened ahead of the tax office's decision to delay a credit card ban after a plea from a peak business lobby. Follow live.
Prime Minister Anthony Albanese has disclosed that he personally intervened to delay a decision by the tax office to implement a credit card ban on small businesses. Roughly 200,000 small enterprises will be affected by the government's proposed minimum tax on discretionary trusts. The legislation to establish a 30% minimum tax on trusts will be introduced to parliament today.
Housing Minister Clare O'Neil clarified that the measure would only impact around 10% of small businesses, as most do not structure their arrangements in this manner. Liberal frontbencher Michaelia Cash described the plan as "stark raving mad," arguing that small businesses are not an endless ATM. Opposition Leader Angus Taylor and other Coalition backbenchers criticized the initiative, with McLachlan maintaining that pre-COP events are beneficial for Australia's Pacific role.
Liberal senator Andrew McLachlan also warned against adopting language used by One Nation, as the opposition leader employs terms like "mass migration" in his migration policy proposal.
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