Turnbull rushes into tax reform announcement

PRIME Minister Malcolm Turnbull will release his tax reform agenda before his first budget in May.

Mr Turnbull (pictured) confirmed yesterday he had planned to release changes to the taxation system at the budget - but he now considered that too far away.

Mr Turnbull told News Corp tax reform should not be rushed.

"The government's approach is to work carefully through all the elements in the tax system and assess how we can make changes that will be both fair and provide greater incentives to work, save and invest," he said.

The announcement comes as Labor continued to pressure the government's perceived lack of policy change since Mr Turnbull became Prime Minister.

Speaking on the ABC shadow infrastructure minister Anthony Albanese said Mr Turnbull was "Tony Abbott in a top hat".

"They don't have an agenda or a narrative. They don't have any sense of purpose at all," Mr Albanese said.