One of Australia's richest men says businesses are extraordinarily frustrated that the federal government's promised tax cuts have become an object of political jousting between the coalition and Labor.
Retail billionaire Solomon Lew is instead urging politicians of all persuasions to urgently legislate the $158 billion tax package when parliament resumes in the first week of July.
The tax relief is needed to boost confidence among everyday people and businesses, the chair of Premier Investments - Myer's biggest shareholder - argues.
"Enough point scoring, talking points and seeking side deals," Mr Lew said in a statement issued on Friday.
"The economy needs stimulus measures now and legislation which provides certainty for tax cuts now and in future years is a critical and welcome measure."
The government needs the support of Labor or at least four crossbenchers to get the three-stage tax package through the Senate and the opposition is still weighing up whether it will back them.
Labor supports the first stage of the plan, which will mean extra cash for low and middle income-earners.
But it believes the later stage, aimed at flattening the tax rates by mid-2024, shouldn't be legislated years in advance and may benefit too many who are already wealthy.
The coalition has ruled out splitting up the package, arguing the later stage will bring much-needed structural reform.
Mr Lew said a responsible opposition is as important as a responsible government.
"It is extraordinarily frustrating for the business community to observe the legislation being treated as yet another display of partisan political point scoring," he said.
"This serves only to demonstrate a clear disconnect between the urgent needs of the economy and Canberra's political games."
Labor has urged the government to provide extra information on the tax cuts, including how much of the $158 billion plan will go towards people earning more than $180,000.
But Finance Minister Mathias Cormann maintains they have all the information they need to make a call.
"All of the necessary information is in the budget papers," he told Sky News on Friday.
Australian Associated Press
