PM promises substantial changes to tax in budget

PRIME Minister Malcolm Turnbull says there will be "substantial" changes to the tax system in tomorrow night's budget, as MPs prepare for what is expected to be the final week of Parliament before the election is called.

Treasurer Scott Morrison has confirmed wealthier Australians would pay more tax on their superannuation, but that there would be some relief for those pushed into higher income tax brackets by inflation.

"We're not fiddling, this is going to be a critically important economic document," Mr Turnbull told Sky News.

"There is substantial tax reform, or tax changes, in the budget."

The Prime Minister has also sought to make a clean break from the Coalition's deeply unpopular 2014 budget, saying Mr Morrison would be presenting "more than a usual budget" and "a new agenda" to take to the election.

Read more at ABC News Online



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