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Tobacco tax rise should not fund tax cuts: Bandt

Adam Bandt 15 Apr 2016

Greens Treasury spokesperson Adam Bandt MP today said if the government is looking to put up the price of cigarettes, they should use that money to invest in areas like hospitals and medical research, not to give big business and the very wealthy a tax cut.

“Putting up the price of cigarettes to stop people smoking and to fund health or medical research is fundamentally a good idea. Putting up the price of cigarettes just so you can give the likes of Gina Rinehart a tax cut is fundamentally unfair,” Mr Bandt said.

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Labor must end the tax cuts arms race this election: Greens

Adam Bandt 14 Apr 2016

In response to the open letter signed by 50 eminent Australians calling on the government to not cut taxes, Greens Treasury spokesperson Adam Bandt MP today called on Labor to rule out cutting taxes in the upcoming Budget and election.

“Fifty eminent Australians have backed the Greens’ call to block tax cuts in the upcoming Budget and election,” Mr Bandt said.

“Real tax reform starts at the top, not the bottom. The Greens will not support tax cuts in the upcoming Budget or the election.”

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Greens to phase out capital gains discount by 2020

The Greens will phase out the 50 per cent capital gains tax discount to ease pressure on Australia’s unaffordable housing market, generating savings of $119.5 billion over ten years.

The concession would be reduced by 10 per cent every year for five years and would run parallel with the Greens plan to phase out negative gearing.

Greens Co-Deputy Leader and Housing spokesperson Senator for WA Scott Ludlam said the fully costed plan would apply to all forms of capital gains including housing, art and investments.

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Income tax proposal a cop out

The Liberals are proving they're not up to the task of tax reform, again dumping their budget problems on state and territory governments, the Australian Greens have said.

"The Turnbull Government doesn't have the ticker to take on any difficult areas of reform so it's looking for an easy way out," said Greens Leader Richard Di Natale.

"Instead of having the courage to take on unfair tax breaks like negative gearing, capital gains tax and fossil fuel subsidies, the PM is surrendering on real reform.

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Greens to oppose income tax cuts & company tax cuts for big business

Adam Bandt 23 Mar 2016

“The Greens will not support income tax cuts in the upcoming Budget,” Greens Treasury spokesperson Adam Bandt said.

“The Treasurer has talked up the issue of 'bracket creep' and hasn’t ruled out income tax cuts."

“Instead of frittering away billions of dollars on $5 a week tax cuts for above average income earners, we should use that money for schools, hospitals and infrastructure.”

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Greens will oppose company tax cut for big business

Adam Bandt 22 Mar 2016

Greens Treasury spokesperson Adam Bandt MP today announced that the Greens will not support any cut to the company tax rate for big business.

“The Greens will not support any attempt to cut the company tax rate for big business,” Mr Bandt said.

“If Malcolm Turnbull and Scott Morrison want to make big businesses pay even less tax, they will need to get the support of the Labor Party.”

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ATO tax data strengthens case for ending unfair tax breaks in Budget: Greens

Adam Bandt 22 Mar 2016

Data released by the Australian Tax Office today on how much Australia’s richest companies paid in tax strengthens the case for the government to end unfair tax breaks in the upcoming Budget, Greens Treasury spokesperson Adam Bandt has said.

“The amount of tax our richest companies have paid has been made public today thanks to the Greens,” Mr Bandt said.

“Today we have found out that almost 100 of Australia’s richest companies paid absolutely no company tax.”

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Raise revenue from those who can most afford to pay

Analysis by the Parliamentary Budget Office shows the government could raise more than $4 billion over the forward estimates by making the temporary deficit levy permanent, and by introducing a new tax bracket for annual incomes of over $1 million.

“You know tax reform is right when it reduces inequality and raises enough revenue to pay for the services the community wants,” said Greens Leader Richard Di Natale.

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A better tax reform debate

I think the government's problems on this tax reform debate, indeed the government's problems under its former Prime Minister Tony Abbott, can be sheeted home to the simple proposition that really is its underlying philosophy. That proposition is this: this government, consistent with their philosophy, want to reduce taxes—income taxes, corporate taxes—and the cost of doing that is that we then do not have the revenue to fund essential services, things like health care, education, or to fund vital public infrastructure.

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Turnbull tax tinkerer, not reformer: Greens

Adam Bandt 25 Feb 2016

Greens Treasury spokesperson Adam Bandt MP today said reports that Prime Minister Malcolm Turnbull is backing down from tax reform and instead will only tinker with caps on superannuation contributions and negative gearing shows that he has squibbed it on tax reform.

“Malcolm Turnbull has squibbed it on tax reform,” Mr Bandt said.

“Instead of making sweeping reforms that would end unfair tax breaks and bring in much-needed revenue for our schools, hospitals and services, Malcolm Turnbull looks set to only tinker at the edges.”

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