Trade Unions urge Australian Govt to levy Millionaires' tax

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Trade Unions urge Australian Govt to levy Millionaires' tax By TII News Service May 18, 2012 , Sydney
THE powerful trade unions in Australia have called for a new levy of 'Millionaires' tax' for rich taxpayers. The Australian Council of Trade Unions is reported to have asked the Govt to shift the tax burden from lower and middle income earners to millionaires and billionaires. The ACTU wants its Govt to develop an Australian version of Buffet tax, which means millionaires pay their taxes in proportion to their capital gains.

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