MALCOLMS LOW TAX REALLY MEANS MILLIONS OF AUSTRALIANS PAY FOR $65BN COMPANY TAX CUTS

21 March 2018

When Malcolm Turnbull talks low tax he actually means higher income taxes for seven million working and middle income Australians.

At the same time as the Government is trying to wheel and deal to jam a $65 billion tax cut for big business through the Senate, the Prime Minister wants to increase income tax to help pay for that by $44 billion.

Malcolm Turnbulls message is clear: big businesses get a company tax cut, while millions of working and middle income Australians pay higher income tax.

Theres no getting around the fact that the Turnbull Government is seeking to legislate an income tax rise for millions of Australians effective on 1 July 2019.

Under the Turnbull Governments income tax hikes, Australians earning as much as $21,000 will pay more in income tax.

At a time of record low wages growth where families are under cost of living pressure, Malcolm Turnbull and Scott Morrison are increasing income taxes on 7 million working and middle income Australians to the tune of $1.7 billion a year.

Before Malcolm Turnbull talks about cutting income tax, he should put his money where his mouth is and drop the Governments planned income tax hike for 7 million working and middle income Australians.

A Shorten Government will oppose this income tax hike for Australians earning up to $87,000. Labor has put forward a fairer alternative which shields low and middle income earners from the tax increase while raising more than the Government over the medium-term.