The income tax cut legislation to be introduced to Parliament this week is the largest single budgetary measure not to face a Senate Inquiry.
The Australia Institute is today releasing a proposed Terms of Reference for a potential Senate Inquiry and new analysis on the fiscal risks associated with the Stage 3 tax cuts.
“The income tax legislation is the largest single budget measure not to face a Senate Inquiry,” said Ben Oquist, Executive Director of the Australia Institute.
“Given Stage 3 does not come into effect for another five years, it would be wise for the Senate to take its time to consider their implications.
“The Senate is Australia’s democratically elected House of Review, it is only right it sends legislation which seeks to so radically change Australia’s income tax system to a Senate Inquiry.”
The Australia Institute’s proposed Terms of Reference for Senate Inquiry, and new analysis — download here.