Kelly O Dwyer and Budget

tax package: The treasurer will release his much-touted tax package with the budget on May 3, according to Nine News Australia. Asked whether the budget can afford a tax cut while calling for people to live within their means, Assistant Treasurer Kelly O'Dwyer told reporters in Melbourne the government was looking at ways to grow investment and the economy."So we are looking at the levers the government can pull in relation to that, and the taxation system is one such lever," she said. While signals a frugal affair, Treasurer Scott Morrison is still leaning towards cutting business taxes as he prepares for his first and only budget ahead of an election."We want to see the tax burden moderated for Australians and particularly for businesses that are out there employing people and driving the growth that we need to drive jobs," Mr Morrison said on Monday. In contrast, Mr Morrison said all Opposition Leader Bill Shorten would say in the time between now and election day is that there will be higher taxes to pay for Labor spending commitments."Every time you see Bill Shorten lips moving over the next three months ... your taxes will go up or the deficit will get bigger because that the only way that he can afford to pay for anything and it is by increasing taxes," the treasurer said. Among Labor plans are limiting the tax offset for property investors and halving the 50 per cent capital gains tax discount. But Mr Shorten insists Labor has unveiled 73 different policies, all funded and costed."We'll keep rolling out our well thought-out, positive plans for Australia future while in the meantime we see the Liberals tearing themselves apart," he told reporters in Perth. (news.financializer.com). As reported in the news.