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Amid record corporate super-profits, Greens announce new Tycoon Tax to raise $338 billion for public good

The Greens have today announced they will push for a new 40% corporate super-profits tax on the excess profits made by big corporations, including mining corporations, in the balance of power after the next election.

The Greens’ push for a ‘tycoon tax’ follows the announcement this week of record super-profits across retail and mining sectors, and National Account figures showing the profit share of national income at the highest (30.3%) since records began, eclipsing last year’s new record1.

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Greens announce 50% tax on Australia’s obscene pandemic profiteers in response to budget that leaves young people and climate worse off

The Australian Greens have used their Budget in Reply speech to announce a new tax on extreme profiteering by billionaires during the pandemic.  
The new tax, which only applies to the 122 richest Australians, will raise $29 billion. It will be taxed on the amount their wealth increased between March 2020 and March 2021.

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RBA Governor right about need for tax reform, but that doesn't mean tax cuts: Greens

The Australian Greens have joined RBA Governor Dr Lowe’s calls for tax reform, with Australian Greens Leader, Adam Bandt, saying that means removing unjustifiable tax breaks for polluters, shifting tax concessions towards research, development and innovation and boosting public sector investment.

In responding to Dr Lowe’s speech, Greens Leader Adam Bandt MP warned the Liberal Party against using it as an opportunity to further give tax breaks to their corporate backers, saying everyday Australians should be the chief beneficiaries of any reforms.

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Australia must take on United Kingdom on their rogue tax havens

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Greens call on Morrison and Joyce to come to Tasmania to face the music on the backpacker tax

Greens Treasury spokesperson and Senator for Tasmania, Peter Whish-Wilson, says that Barnaby Joyce and Scott Morrison need to take responsibility for the backpacker tax mess and come to Tasmania immediately to see first-hand the impact this tax will have on the Tasmanian economy.

Senator Whish-Wilson said, "This Government has made it clear its priority for this 45th parliament is so called 'deficit repair,' not the needs of small Tasmanian agricultural businesses.

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Liberals set to deliver ‘Budget for the billionaires’

The Australian Greens say the Liberals are set to deliver a Budget that will grow inequality by
including company tax cuts and income tax cuts for above average income earners.

"This Budget, like this Prime Minister, is shaping up to be a huge disappointment," said Greens Leader Richard Di Natale.

"Malcolm Turnbull came in and said everything was on the table, but now he and his Treasurer are serving up the same tired old dishes as Tony Abbott.

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Greens secure inquiry into corporate tax evasion

The Senate has just voted in favour of a Greens motion to launch an inquiry into corporate tax evasion, in the lead-up to the G20 summit.

"On the same day that Labor has facilitated some of Joe Hockey's cruel budget cuts, the Greens have launched an inquiry to end the age of entitlement for the big end of town," said Greens Leader Christine Milne.

"Instead of pulling safety nets out from under people in our community who most need support, the Abbott government should look for ways to raise revenue from those who can afford to pay.

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Greens will move for Senate inquiry into corporate tax evasion

Greens Leader Christine Milne says she will this week move for a Senate inquiry into corporate tax evasion in Australia.

"In Tony Abbott and Joe Hockey's Australia the real leaners are the big corporations. The big end of town is not paying anywhere near the amount of tax it should be paying," Senator Milne said.

"Instead Tony Abbott is trying to raise revenue from the poor, the sick and the young. This is wrong.

"If the Abbott government wants to raise revenue for its phoney budget emergency they need to crack down on corporate tax evasion.

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