The Morrison Government has today committed to a Lower Tax Guarantee during the next term of Parliament as well as providing an ironclad guarantee that the planned $100 billion of tax relief will be delivered to Australian workers over the next four years.<\/p>\n\n\n\n
This commitment provides certainty to millions of workers, retirees and to every small business in Australia.<\/p>\n\n\n\n
Prime Minister Scott Morrison said the Labor Party could not give the same guarantee while they continue to refuse to put a speed limit on their tax plan for millions of Australians.<\/p>\n\n\n\n
\u201cLower taxes are at the heart of our economic plan for a stronger economy and stronger future,\u201d the Prime Minister said.<\/p>\n\n\n\n
\u201cToday I give the Australian people my Government\u2019s Lower Tax Guarantee.<\/p>\n\n\n\n
\u201cI also guarantee that we will deliver $100 billion in tax relief over the next four years, providing Australians with certainty and helping to deliver a stronger economy.<\/p>\n\n\n\n
\u201cThere is a clear choice at this election and Australians should know that a vote for Labor means higher taxes with real consequences on your mortgage repayments, grocery bill and household budget.<\/p>\n\n\n\n
\u201cLabor has left the door wide open to introducing new taxes or higher taxes to pay for their spending initiatives, while they refuse to guarantee a tax speed limit.<\/p>\n\n\n\n
\u201cOur Government has delivered income tax relief for more than 11 million Australians and reduced small business tax rates to the lowest level in 50 years \u2013 we are the party of lower taxes.\u201d<\/p>\n\n\n\n
A re-elected Morrison Government\u2019s Lower Tax Guarantee includes;<\/p>\n\n\n\n
A re-elected Morrison Government will continue to put a speed limit on taxes by keeping taxes below 23.9 per cent of GDP.<\/p>\n\n\n\n
Treasurer Josh Frydenberg said Anthony Albanese has argued for higher taxes his whole political career including the mining tax, carbon tax, housing tax, death duties and retirees\u2019 tax just to name a few.<\/p>\n\n\n\n
\u201cWithout a speed limit on taxes, our legislated tax cuts will not be safe under a Labor Government led by Mr Albanese who has called them \u201ctax cuts for the top end of town\u201d and “unfair tax cuts,\u201d the Treasurer said.<\/p>\n\n\n\n
\u201cThis position is echoed by the Greens, making it abundantly clear that under a Labor-Greens alliance Australian workers and small businesses can never be certain of benefiting from lower taxes.<\/p>\n\n\n\n
\u201cThe reason why Labor want to tax more is because they can\u2019t manage money and when they run out of money they come after yours.<\/p>\n\n\n\n
\u201cWhether it\u2019s wasting $6 billion to pay people to get the jab, even though they\u2019ve already had it, or running JobKeeper longer than necessary Labor have shown they can\u2019t manage money.<\/p>\n\n\n\n
\u201cOnly the Coalition can be trusted with our plan for a strong economy and a stronger future.\u201d<\/p>\n\n\n\n
Finance Minister Simon Birmingham said now was not the time to risk a higher spending Labor Government that would inevitably see Australians cop a higher tax bill.<\/p>\n\n\n\n
\u201cWe all know that when Labor spends big it means they tax big and that will see Australians pay more,\u201d Minister Birmingham said.<\/p>\n\n\n\n
\u201cLabor have made $302 billion worth of vague spending promises, yet they refuse to say how they would pay for them.<\/p>\n\n\n\n
“At least Bill Shorten was up front about his $387 billion of tax hikes. Anthony Albanese dodges questions so that he can keep his high spending, high taxing plans secret.<\/p>\n\n\n\n
\u201cAustralians know that the only way to pay for Labor\u2019s higher spending would be through higher taxes and this huge cost would make our economy weaker, risking fewer jobs and higher interest rates.\u201d<\/p>\n\n\n\n
The Labor Party\u2019s record is clear when it comes to putting a speed limit on taxes;<\/p>\n\n\n\n
Labor believes a tax cap \u201cdoes not fulfil any useful economic purpose\u201d (ALP National Platform, 1 February 2019)<\/em><\/p>\n\n\n\n Labor believes a tax cap is \u201cimposed for political reasons rather than good economic reasons\u201d (Jim Chalmers, National Press Club, 5 April 2022).<\/em><\/p>\n\n\n\n The Morrison Government has today committed to a Lower Tax Guarantee during the next term of Parliament as well as providing an ironclad guarantee that the planned $100 billion of tax relief will be delivered to Australian workers over the next four years. This commitment provides certainty to millions of workers, retirees and to every … Continue reading “Morrison Government Promises Lower Taxes”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-16283","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/16283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=16283"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/16283\/revisions"}],"predecessor-version":[{"id":16284,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/16283\/revisions\/16284"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=16283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=16283"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=16283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}COALITION<\/strong><\/td> LABOR<\/strong><\/td><\/tr> Tax cap<\/strong>23.9 per cent of GDP<\/td> Tax cap<\/strong>Uncapped<\/td><\/tr> Income tax on $60,000 income<\/strong>$8,476 (2021-22)<\/td> Income tax on $60,000 income<\/strong>$11,047 (2013-14)<\/td><\/tr> Income tax on $90,000 income<\/strong>$18,217 (2021-22)<\/td> Income tax on $90,000 income<\/strong>$21,247 (2013-14)<\/td><\/tr> Small business tax rate<\/strong>25 per cent (2021-22)<\/td> Small business tax rate<\/strong>30 per cent (2013-14)<\/td><\/tr> Announced tax measures<\/strong>$320 billion in tax cuts<\/strong> for householdsEliminate an entire tax bracket95% of workers face a marginal tax rate of 30% or less$21 billion in tax cuts<\/strong> for small business25% small business tax rateSmall business tax incentives worth $1.6 billion over the next four years<\/strong>$50 billion in tax relief<\/strong> through business investment incentivesExpanded Instant Asset Write Off to 30 June 2023.<\/td> Announced tax measures<\/strong>When last in office Labor imposed higher taxes, including<\/strong>Carbon taxMining taxHigher taxes on Australian workersAt the 2019 election Labor wanted to impose $387 billion in higher taxes, including<\/strong>$230 billion of higher taxes on Australian workers$57 billion Retirees tax$34 billion Superannuation taxes$31 billion Housing tax$27 billion Small family business taxNow Jim Chalmers said he wants to \u201cmaintain flexibility\u201d<\/strong> and Albanese said Labor will make \u201ctax adjustments\u201d<\/strong> all in a Budget they plan to hand down after the election<\/strong>.<\/td><\/tr> Multinational tax<\/strong>More than a dozen measures to tackle multinational tax avoidance<\/strong>.$25.8 billion in additional tax<\/strong> on the back of these measures – that’s almost $5 billion a year.Extended the ATO Tax Avoidance Taskforce<\/strong> in the 2022-23 Budget, which is expected to raise a further $2.1 billion in tax.<\/td> Multinational tax<\/strong>Labor voted against<\/strong> our changes to multinational tax avoidance, putting in jeopardy the $25.8 billion in additional tax we\u2019ve collected.Labor voted to delay<\/strong> GST applying to foreign multinationals for low value goods they ship to Australia.Labor introduced the mining tax <\/strong>which raised no revenue but damaged business confidence and our international reputation.<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"