Luke Howarth (Petrie, Liberal Party) Share this | Link to this | Hansard source

I support lower taxes and I support the lower taxes outlined in the budget by the Treasurer on Tuesday night. Over 66,000 people in my electorate on low and medium incomes will benefit straightaway. Ninety-four per cent of Australians should not pay more than a third of what they earn in tax. To the people who currently live in Petrie, if you earn $18,200 a year, you currently pay zero tax—that is, no tax. If you earn $37,000 a year, you'll pay $3,572. If you earn a wage of $52,000, you'll pay about $8,400 in tax. If you earn $87,000 a year, you'll pay $19,822 in tax. If your earnings are much higher, at $180,000 you will currently be paying $54,232 in tax and if you earn $200,000 you'll currently be paying $63,232. I believe in lower taxes and reward for effort and so does the Prime Minister, and because of the $40 billion in additional revenue, because of our crackdown on multinationals and because of job creation and economic growth, we can now give your money back to you. It's your money, not ours. We support lower taxes for 94 per cent of Australians.