Viewing articles in Portfolio:

Treasury

Filter Articles

National accounts figures show Australian economy still too reliant on mining exports: Greens

Greens Treasury spokesperson Adam Bandt MP today said the national accounts released this morning reveal that the Australian economy is still heavily reliant on mining exports, leaving us exposed to changing prices and demand.

“It’s concerning that growth is still so heavily reliant on mining exports, because it leaves us exposed to changing prices and demand,” Mr Bandt said.

“The figures confirm we must redouble our efforts to grow the new economy, including by making Australia a renewable energy superpower.”

Read more

Senate puts ice on government’s ideological super attack

Adam Bandt 2 Dec 2015

Greens Treasury spokesperson Adam Bandt MP welcomed the crossbench Senators putting the ice on the government’s ideological attack on super through their Superannuation Trustees Governance legislation.

“The banks are coming for people’s super and the government is helping them,” Mr Bandt said.

“The government is being driven by ideology, not evidence.”

Read more

PBO analysis shows lifetime caps alone not enough to reform super: Greens

Adam Bandt 23 Nov 2015

Following reports that Treasury is considering placing a lifetime cap on voluntary super contributions advocated by various think tanks and industry groups, the Greens have indicated that while they will consider all options for superannuation reform, PBO analysis indicates it may not generate enough savings to rein in the rising cost of superannuation tax concessions.

Greens Treasury spokesperson Adam Bandt MP said:

Read more

Oil & gas profits need to be on tax table: Greens

Adam Bandt 18 Nov 2015

In response to reports today that revenue from the Petroleum Resource Rent Tax is flat-lining despite the industry booming, Greens Treasury spokesperson Adam Bandt MP today called on the government to put resource taxation on the tax reform table.

Mr Bandt will write to Treasurer Scott Morrison to request the government’s tax green paper includes resource taxation.

“Today we’ve heard further reports of overseas companies ripping off Australians by aggressively minimising the tax that they pay,” Mr Bandt said.

Read more

Greens will fight Government attempt to aid corporate tax avoidance

The Australian Greens say Malcolm Turnbull has exposed his true colours by rejecting an Australian Greens amendment that would have increased transparency in corporate tax avoidance.

"Malcolm Turnbull wants to push ahead with cuts to family support and a higher GST but he's not willing to crack down on corporate tax avoidance," said Greens Leader Richard Di Natale.

"The whole game is up. The Turnbull Government has shown today that it will protect the big end of town and slug ordinary people. Tax reform should start at the top, not at the bottom.

Read more

Discussion on super lifetime caps welcome: Greens

Adam Bandt 11 Nov 2015

Greens Treasury spokesperson Adam Bandt MP today said the Greens are up for a discussion about tackling unfair tax breaks by putting a cap on voluntary superannuation contributions over a person’s lifetime and called on the government to put a costed superannuation policy on the table.

“We welcome any discussion about making sure superannuation looks after people in their retirement and isn’t used as a vehicle for tax minimisation, which it was never intended to be,” Mr Bandt said.

Read more

Government must be ambitious with super reform: Greens

Adam Bandt 10 Nov 2015

Greens Treasury spokesperson Adam Bandt MP today called on the government to be ambitious with its plans to reform the superannuation system and said the Greens support ending unfair tax breaks.

“Superannuation tax concessions are projected to cost the Budget more than the aged pension itself, so we need to rein in unfair tax breaks,” Mr Bandt said.

“Now is no time to be timid.”

Read more

Treasurer should include carbon tax in Tax White Paper: Greens

Adam Bandt 9 Nov 2015

Greens treasury spokesperson Adam Bandt MP today called on Treasurer Scott Morrison to include a carbon tax in the government’s Tax White Paper. Mr Bandt’s call comes after Parliamentary Library analysis showed that removing the current exemptions from the GST or increasing the GST to 12.5% would bring in a comparable amount of revenue to the original carbon tax, forecast to reach $29 a tonne, yet it will cost households around three to four times as much.

Read more

Tax millionaires instead of GST: Greens

Adam Bandt 5 Nov 2015

Greens treasury spokesperson Adam Bandt MP today said that Prime Minister Malcolm Turnbull and Treasurer Scott Morrison are going the wrong way on tax by considering an increase to the GST and cuts to personal income tax. Mr Bandt called on the government to consider the Greens’ ‘Millionaire’s Tax’, which would see people earning incomes above $1 million pay an extra 5 per cent marginal tax.

Read more

Greens will fight GST hike

Adam Bandt 2 Nov 2015

Greens Treasury spokesperson Adam Bandt MP says the Greens will fight the government's plan to push up the goods and services tax.

"The Greens will fight tooth and nail to stop any GST increase," Mr Bandt said.

"The last 24 hours have confirmed what we have feared for some time. Malcolm Turnbull is testing the waters to see how far he can hike up this regressive tax."

"We accept the Budget has a revenue problem, but there are better ways to raise revenue, such as removing unfair tax breaks for big polluters and the very wealthy."

 

Read more