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Greens respond to poor Mid-Year Economic and Fiscal Outlook report card

The Mid-Year Economic and Fiscal Outlook released today highlights the Turnbull Government’s dead-end plan to balance the budget on the backs of the most vulnerable Australians, Leader of the Australian Greens Dr Richard Di Natale said.

​“There is one message in this MYEFO for everyday Australians: unless you’re a big corporation or Liberal Party donor, you don’t matter.”

“Malcolm Turnbull’s plan to hand out tax cuts to the wealthiest Australians while wage growth remains stagnant is a slap in the face to ordinary Australians doing it tough.” 

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Budget abandons housing affordability

Scott Ludlam 4 May 2016

The 2016 budget entrenches government hostility to renters and those on low incomes trying to get into the housing market, the Australian Greens said today.

"Reports this morning outline the huge risk affordable housing is under with this budget, as we will see thousands of wealthy retirees switch their investments from superannuation to property. That will squeeze lower income earners and first home buyers even further out of the market," Australian Greens spokesperson Senator Scott Ludlam said today.

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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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Greens release costings for capital gains tax reform

The Australian Greens have today released Parliamentary Budget Office costings that show removing structural unfairness in the tax system through the discount on Capital Gains Tax (CGT) could generate as much as $74 billion over the next ten years, rising to $127 billion when negative gearing reforms that have warped the housing market are taken into account.

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