Unions and employers hail inclusive Malcolm Turnbull as national mood lifts
Date October 2, 2015 - 7:40AM
Mark Kenny and Nassim Khadem
Business groups, unions and welfare representatives have emerged from Thursday's mini-summit with Malcolm Turnbull united in supporting greater productivity.
The Turnbull government has reached in-principle agreement with unions, employers and welfare organisations to reduce a raft of concessional taxation arrangements that benefit the rich, as all sides hailed the prospect of a new era of consensus and co-operation in Canberra.
It followed the first direct ACTU-Coalition discussions since the 2013 election.
The sudden thawing of opposition to long-term reform possibilities that has come with the Turnbull prime ministership means superannuation concessions for the well-off, entirely ruled out of consideration by the Abbott government for political reasons, are firmly back on the agenda with all parties agreeing such arrangements need to be scrapped if they are not "fit for purpose".
Also in the frame are capital gains tax concessions on property held for longer than 12 months, and negative gearing on property, both of which have been criticised for having unintended consequences, such as distorting real estate markets and driving prices beyond the reach of first home buyers.
"There was a very, very strong agreement that concessions needed to be looked at," said Business Council of Australia Chief Executive Jennifer Westacott.
http://www.smh.com.au/federal-politics/political-news/unions-and-employers-hail-...