Australian Treasurer may announce more Henry reforms in budget

14:30, May 03, 2010      

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Australian Federal Treasurer Wayne Swan on Monday opened the possibility of further recommendations from the Henry tax review being included in next week's budget.

Swan said the bulk of the government's response has already been announced but more recommendations are on the table.

"I can't rule anything out or in terms of the budget," Swan told Fairfax Radio on Monday.

"It's possible that we could look at recommendations, but I can 't confirm or say that we will. The budget will be delivered in a week's time."

Swan said at least two recommendations from the Henry report were being examined: simplifying tax returns and further incentives for savings.

Opposition Leader Tony Abbott said the government's response was a major hit to small business.

While small businesses will receive a 200 million dollars (185 million U.S. dollars) tax cut, Abbott said they also face a 10 billion dollars (9.24 billion U.S. dollars) increase in their superannuation guarantee levy, given that they employ half of all Australians.

The government has been criticized for proposing just four key changes to the taxation system, despite Treasury secretary Ken Henry making 138 recommendations in his long-awaited report.

Swan has revealed the Henry tax review on Sunday.

Source: Xinhua


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