Senate debates
Monday, 16 June 2014
Bills
Tax Laws Amendment (Temporary Budget Repair Levy) Bill 2014, Income Tax Rates Amendment (Temporary Budget Repair Levy) Bill 2014, Family Trust Distribution Tax (Primary Liability) Amendment (Temporary Budget Repair Levy) Bill 2014, Fringe Benefits Tax Amendment (Temporary Budget Repair Levy) Bill 2014, Income Tax (Bearer Debentures) Amendment (Temporary Budget Repair Levy) Bill 2014, Income Tax (First Home Saver Accounts Misuse Tax) Amendment (Temporary Budget Repair Levy) Bill 2014, Income Tax (TFN Withholding Tax (ESS)) Amendment (Temporary Budget Repair Levy) Bill 2014, Superannuation (Departing Australia Superannuation Payments Tax) Amendment (Temporary Budget Repair Levy) Bill 2014, Superannuation (Excess Non-concessional Contributions Tax) Amendment (Temporary Budget Repair Levy) Bill 2014, Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment (Temporary Budget Repair Levy) Bill 2014, Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 1) Amendment (Temporary Budget Repair Levy) Bill 2014, Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 2) Amendment (Temporary Budget Repair Levy) Bill 2014, Tax Laws Amendment (Interest on Non-Resident Trust Distributions) (Temporary Budget Repair Levy) Bill 2014, Tax Laws Amendment (Untainting Tax) (Temporary Budget Repair Levy) Bill 2014, Trust Recoupment Tax Amendment (Temporary Budget Repair Levy) Bill 2014; Second Reading
12:48 pm
Don Farrell (SA, Australian Labor Party, Shadow Minister for the Centenary of ANZAC) Share this | Hansard source
I rise to speak on the legislation before us, the Tax Laws Amendment (Temporary Budget Repair Levy) Bill 2014 and related bills, and to try to deal with it in a slightly broader context, perhaps, than some of the previous speakers on either side. However, I noted Senator Dastyari's contribution, and I thought that dealt very adequately with some of the more specific issues that related to the legislation. I would like to talk about the legislation in its broader political context and, in particular, the way it interweaves with all of the other changes that this government has sought to introduce as part of its budget for this year. I particularly want to draw your attention, Acting Deputy President, to what I think are some issues that have not been adequately explained to the Australian people about this legislation.
We are having this legislation—which the opposition will support—because it raises the tax levy on high-income earners to pay for what the government says is its budget crisis, a budget emergency. I do not think that you have convinced the opposition or, more importantly, the Australian public that we have a budget emergency that requires these sorts of changes. I just do not think the Australian population believe you when you say you have a budget crisis.
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