Labor says removal of tax exemption could save billions

Bill Shorten today announced another proposal Labor will take to the election

Bill Shorten today announced that, if elected, a Labor Government would roll back generous Howard-era tax concessions.

Under the scheme, people with zero taxable income can actually be paid cash refunds by the tax office.

Labor says the change will save billions, but there are others, including the government, who fiercely oppose the move.

Self managed super funds managed by wealthy individuals were the target, but is it elderly pensioners with a few Telstra shares who will pay the price?

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