Email RMIT ABC Fact Check Updated June 14, 2019 13:23:58 Photo: Treasurer Josh Frydenberg’s claim does not tell the whole story. (ABC News: Nick Haggarty) Map: Australia The claimThe Coalition has long warned that Labor’s proposed 50 per cent capital gains tax increase will not only hit the economy but also taxpayers on low-to-middle incomes, including teachers, nurses and emergency services workers.In a recent tweet, Treasurer Josh Frydenberg said the policy targeted “aspiration and entrepreneurship”.”With 60%+ of taxpayers who had a capital gain having a taxable income under $80,000, Labor will discourage Australians to save & invest & punish those who do!” Mr Frydenberg tweeted.Is it correct that 60 per cent of taxpayers who declared a capital gain had taxable incomes of less than $80,000?And is it reasonable to suggest the policy will mostly hurt those on low-to-mid incomes? The verdictMr Frydenberg’s claim is misleading. He points out that more than 60 per cent of taxpayers declaring a capital gain in a given year were on taxable incomes of less than $80,000.However, this paints a distorted picture.Taxable income is a poor indicator of household wealth, as noted by leading tax and economic modelling experts and previously reported by Fact Check… Read full this story
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Labor's capital gains changes will hurt those on less than $80,000, Josh Frydenberg says. Is that right? have 308 words, post on www.abc.net.au at June 14, 2019. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.