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Tag Archives: Threats to increase taxation

Operation Bleedin’ Obvious.

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.

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