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8 Ways to Raise Revenue the Liberal Party Seem to be Ignoring

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Christine Milne 30 Mar 2015

With the release of the tax white paper, you could be forgiven for thinking that the big end of town was doing it tough. But oh, how wrong you are. We've found 8 ways to raise revenue that the Liberal Party seem to be ignoring...

1. Abolish tax breaks for big mining

Currently big mining pays less for petrol than everyday Australians. How about if they didn't?

Joey looking shocked animated gif

= $10.5 billion

2. Reinstate the price on pollution

Just like how you can't dump stuff at the tip for free, before the Liberal Government repealed our price on pollution, Australia's biggest polluters had to pay for polluting. Now, not only does it cost them nothing to pollute, the Government pays big polluters (with your taxpayer dollars) to promise to pollute less.

Stephen Colbert surprised animated gif

= $18 billion

3. Implement the original super profits tax on big mining -- taxing big business that can afford it.

If you let someone dig up treasure in your backyard, how much of it would you let them keep for digging it up for you? Probably a lot more than what the Government keeps from big mining digging up Australia's natural resources.

Kristen Wiig looking angry animated gif

= $18.6 billion

4. Impose a $2 per tonne levy on thermal coal exports

Interesting fact: 80% of the coal we dig up is exported overseas. If we charged just $2 for every tonne exported, we'd raise $1.7 billion dollars!

Will Smith looking surprised animated gif

= $1.7 billion

5. Reduce tax avoidance by taxing discretionary trusts (excepting farmers) the same as corporations

Did you know that often rich people set up trusts instead of companies because of different tax and disclosure rules? As the old saying goes, 'you can't tax what you can't see.'

Sherlock Holmes surprise discovery animated gif

= $3.6 billion

6. Implement a Millionaires Tax on incomes over $1 million

While the Liberals think that punishing our community's most vulnerable people is the way to go, we reckon that if you earn over a million dollars a year, maybe you could pitch in a few more dollars.

shocked person animated gif

= $637 million

7. Apply a public insurance levy on the Big Four Banks that are ‘too big to fail'

Did you know that the Australian Government guarantees protection for the Big Four Banks that are 'too big to fail'? Well, you don't get to insure your house for free, and the Big Banks shouldn't either. How about they actually pay a public insurance levy to the Australian taxpayer to cover the cost of this privilege?

Wolf of Wallstreet animated gif

= $16.8 billion

8. Introduce a progressive superannuation tax system, replacing the 15% flat rate, to prevent tax loopholes being rorted by the mega-rich

Did you know that financial advisers actively tell wealthy folks over 55 to 'cycle their income through their superannuation' because it's only taxed at a flat 15% rate, instead of the fairer tiered tax system for income?

We can close these sneaky tax loopholes being rorted by the mega-rich avoiding the top income tax brackets, by introducing a progressive superannuation tax system.

shocked person animated gif

= $10.16 billion

All together, this adds up to $79 billion dollars!

Alec Baldwin thumbs up animated gif

Sound reasonable? Then tell the Liberal Government that we need real tax reform at: http://grns.mp/tax-reform

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