The West Australian
The WA Government has declared it wants the Prime Minister to go further on its tax concessions after Thursday’s capital gains and trust fund backflip, with Roger Cook due to fly to Canberra next week.
The Federal Government has scrapped plans to impose a minimum 30 per cent tax on income distributed in discretionary testamentary trusts, that sparked claims of a ‘death tax’ by stealth.
The Government has also offered a carve-out to tech start-ups, increasing the CGT exemption threshold for small to medium businesses from $2 million to $10 m.
But WA’s mining exploration sector has so far missed out on an exemption.
Treasurer Rita Saffioti has vowed to continue to lobby the Commonwealth on the industry’s behalf.