Candidates explain their approaches towards taxation
WITH seven days remaining in the 2019 federal election campaign, Capricornia's candidates have shared their answers to The Morning Bulletin's latest question: "Please explain your approach towards taxation? Where would you cut or impose taxes?”
The Greens - Paul Bambrick
"Australia is the world's biggest gas exporter. Offshore gas companies will make billions over the next 40 years but never pay any royalties and may never pay a cent in tax either,” Mr Bambrick said.
"They get our gas resources completely free and the major parties won't change that arrangement because they have received millions in donations from these companies.
"The Greens would implement the recommendations of the Henry Tax Review by introducing a 40 per cent super-profits tax on very profitable mining ventures to raise $18.7 billion. This is just one or the many of the super rich's tax loopholes the Greens will close.”
Katter's Australian Party - George Birkbeck
"I welcome the government's decision to reduce personal income taxes and to reduce company tax for small and medium sized business,” Mr Birkbeck said.
"What I don't support is tax cuts for companies with earnings of more than $50 million.
"Many of these big companies are foreign nationals who are tax dodgers that don't pay their fair share. These bludgers should be exposed and made to pay up or be expelled from this country.
"The federal tax pie is around 35 per cent of GDP which is mid-range amongst OECD countries. Our problem is not the amount of revenue collected, it is with the wasteful and incompetent government spending of our tax dollars.”
Independent - Ken Murray
"Small minds take the simple and make it complicated, while great minds take the complicated and make it simple,” Mr Murray said.
"Our current taxation system is too hampering, too complex, too costly to sustain for our employers, their employees, and greedy government, with so much unproductive time wasted on paperwork fluff 'n bubble 'n squeak.
"I would like to see our taxation simplified to a simple 20% tax on wages and business net income, and do away with the GST dinosaur.
"It is what Joseph did in ancient Egypt, which turned it into the richest nation on Earth, at that time.”
LNP - Michelle Landry
"On our side of politics we firmly believe that you should be able to keep more of what you earn. That's why we have a plan to provide real tax relief for families right across CQ,” Ms Landry said.
"With a tax rebate available after June 30 worth $1,080 for singles earning between $45,000 and $90,000, double that for couples who both earn within that range.
"We are also delivering our corporate tax plan, taking small business tax rate from 30 per cent down to 25 per cent to keep Australian businesses competitive on the global scene and helping them grow and deliver over one million jobs.”
ALP - Russell Robertson
"Labor has already announced sweeping tax cuts for low to middle income earners. More than 700,000 Queenslanders will be better off under Labor,” Mr Robertson said.
"We back the $30,000 instant asset write-off for small businesses, and lowering the small and medium size business tax rate to 25%, but will go even further.
"All businesses can get an upfront 20% deduction for big capital expenditures above $20,000 - that's the Australian Investment Guarantee.
"Unlike the Coalition we will fund this through closing some of the loopholes exploited by multinationals and the top end of town, and winding back generous concessions paid to wealthier Australians who do not need a handout.”
One Nation - Wade Rothery
"One Nation supported tax cuts for workers with our casting vote in the Senate and will maintain that support into the new parliament,” Mr Rothery said.
"Labor however want to increase taxes for those miners and emergency workers who do overtime to earn a little more each week.
"One Nation would support removing tax deductible expenses used by multinational companies and big business who send call centre jobs offshore to India and the Philippines.
"If you want to export jobs to overseas workers, you should not receive a tax deductible incentive in return. One Nation also supports making multinational companies paying their fair share of tax.”
United Australia Party - Lindsey Sturgeon
"Provisional tax cripples many small businesses,” Mr Sturgeon said.
"By allowing small business to pay their provisional tax at the end of the year after they have earned the money, instead of quarterly in advance, The United Australia Party will release $70 billion into the economy.
"Every time this money is spent it will generate $7 billion in GST revenue helping to build Australia.
"Australians are handicapped by a complex and uncertain tax system which is limiting, rather than promoting and growing. We need to streamline and simplify this system.”
Conservative National Party - Grant Pratt
Mr Pratt said he wanted to see no further taxes.
"We want to reduce taxes further as they inhibit business being started. We will oppose Labor and it's franking tax con on self funded retirees,” Mr Pratt said.