Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

I'm glad the honourable member is giving the residents of Point Piper a rest today and has decided to have a go at the property developers in Arncliffe.

The fact of the matter is this: under the current tax regime, in 2015-16, for example, the taxpayers earning over $180,000 paid 30 per cent of the total personal tax take to the government, and they represented four per cent of taxpayers. Under our plan, in 2024-25, there will be six per cent of taxpayers earning over $200,000, and they will pay—wait for it—36 per cent of the total tax receipts from personal income tax. Our plan rewards aspiration, encourages investment, encourages employment and is thoroughly progressive. As is the case now, but more so, those on the highest incomes will pay most of the tax.

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