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‘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.

‘A direct attack on the profession’: Labor called to ditch $3k deduction cap on tax agent fees
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  • Shared by SMSF Adviser
  • August 04, 2021
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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

Read more at SMSF Adviser.

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