Kevin Rudd detailed Labor's $31 billion tax policy in a Canberra press conference this afternoon.
Four major measures were outlined:
- A 50% education tax refund for families of up to $750 for primary school children and $1500 for secondary school children. Spending: $2.3 billion.
- Household spending on communications technology (including computers and internet connections) will be included in the education tax refund.
- A six year tax reform plan to reduce the number of tax rates from four to three by 2013. The top tax rate would be 40%, with subsequent rates falling to 30% and 15%. No tax cuts for those earning more than $180,000 were announced (saving $2.9 billion on the Government tax break for this income group).
- $400 million directed into health spending to address elective surgery waiting lists.
Read Joshua Gans' take on the policy here.
