I’ll keep this short.
Need money? Here’s some:
Axe the Paid Parental Leave scheme. Saving $22.2 billion over the forward estimates.
Axe Direct Action. Saving $2.55 billion over the forward estimates.
Tax voluntary superannuation contributions at the employee’s marginal tax rate. Saving $17.8 billion this financial year and $20.7 billion by 2016-17.
Axe the 50 per cent discount on capital gains tax. Saving $5.4 billion, climbing to $7.6 billion by 2016-17.
Stop negative gearing. Saving $4 billion a year.
Cap defence spending at $20 billion a year. Saving $40 billion over the forward estimates.
Cancel the extra 58 fighter jets. Saving $12.4 billion.
Reinstate the reporting obligation for car business use. Saving $1.8 billion.
Axe the company tax cut. Saving $4 billion a year.
Keep the mining tax. Revenue of $3.4 billion over the forward estimates.
Increase the top marginal tax rate from 45 to 47 per cent and apply it to all earnings over $150,000 rather than the existing threshold of $180,000. Revenue of $8.1bn over four years.
Introduce a Financial Transactions Tax. I don’t have current figures but if a 0.05% FTT were collected on Australian “over-the-counter” and exchange traded market transactions between 2005-06 and 2008-09, it would have raised $48 billion.
Are we there yet?
Get your hands off our kids, our elderly, our unemployed, our sick and disabled. Threaten me again and I will get REALLY angry.