House debates

Tuesday, 16 March 2021

Questions without Notice

Taxation

2:23 pm

Photo of Bridget ArcherBridget Archer (Bass, Liberal Party) Share this | | Hansard source

My question is to the Treasurer. Will the Treasurer please remind the House how the Morrison government's commitment to lower taxes is helping our economy recover strongly and giving Australian households more of their own money back? Is the Treasurer aware of any credible alternative policies?

Photo of Josh FrydenbergJosh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | | Hansard source

I acknowledge the member for Bass's experience as a local mayor and as a person who has been involved as a farmer before coming to this place. The member for Bass, like others on this side of the House, believes in lower taxes so that Australians can earn more and Australians can keep more of what they earn. As a result of policies that have been passed through the parliament, supported and initiated by those on this side of the House, since last July $9 billion in lower taxes has passed its way through to the pockets of Australian families. Between March and September, there was another $12 billion in tax cuts for 11 million Australian workers, families and households. If you're a nurse or a teacher earning $60,000 a year, as a result of the policies supported by this side of the House you will pay $2,160 less in tax than you would have paid back in 2017-18. On this side of the House, we have also legislated tax cuts which will see a whole tax bracket abolished, meaning that 95 per cent of Australian taxpayers will pay a marginal rate of no more than 30c in the dollar. We will have one large tax bracket between $45,000 and $200,000. This is significant, long-term structural reform.

I am asked: are there any alternative approaches? We know that the Australian people at the last election were presented with a very clear contrast. We supported lower taxes, while those opposite supported $387 billion of higher taxes. We remember the member for Rankin saying how proud and pleased he was of the retirees tax and the housing tax, and describing small business as the top end of town. Remember the member for Maribyrnong saying, about those taxes, that he was 'not for turning' and retirees were on the back of their yachts. We remember those opposite and their $387 billion of higher taxes—higher taxes on people's superannuation, on their income, on small businesses, on their savings and on their housing. Just last week the Leader of the Opposition had the opportunity to say he supported the legislated stage 3 of the tax cuts and he couldn't even bring himself to say that. He just said, 'Let's wait and see.' We on this side of the House support lower taxes. (Time expired)