Opposition commits to deliver on MIT changes
The Federal Opposition has claimed further delays to tax law changes around managed investment trusts represents proof the Government is not serious about Australia becoming a genuine regional financial services hub.
The Opposition spokesman on financial services, Senator Mathias Cormann, said the Government had promised the changes before the last Federal election and the latest delays meant the changes would not occur until after the next election.
"This is yet further evidence of Labor's paralysis in government and their inability to deliver on their promises," he said.
Cormann claimed the Government's approach to the consultation process had frightened many stakeholders who now hoped that postponing the changes until after the next election would bring a better outcome.
He said a Coalition government would make it a priority to work with all relevant stakeholders in a methodical and predictable fashion to strengthen Australia's position as a genuine financial services hub.
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