Adam Bandt: Greens vow oppose tax cuts for millions of Australians earning more than $45,000
Greens pledge to STOP tax cuts for every Australian making more than $45,000: How Adam Bandt wants Anthony Albanese to focus on handing out freebies and repairing Aussies’ TEETH
- Phase three tax cuts will come into effect in 2024 and benefit the rich most
- Adam Bandt wants new government to revoke phase three tax cuts
- Threatened to amend Labor’s first budget in October if not withdrawn
- Mr Bandt wants childcare and dental care to be free for all Australians
The Greens have threatened to derail Labor’s first budget in October if Anthony Albanese’s government doesn’t reverse tax cuts for Aussies earning more than $45,000.
Leader Adam Bandt wants the new Labor government to repeal phase three tax cuts – which will take effect in 2024 – and instead spend the money on free childcare, free dental care and building a million homes.
The tax cuts – introduced by the Coalition and supported by Labor – benefit the wealthiest Australians the most, giving $9,000 a year to those with more than $180,000, but only $680 to a worker with $72,000.
Greens leader Adam Bandt (pictured with his wife Claudia) wants the new government to repeal phase three tax cuts that take effect in 2024
The Greens have vowed to use their blocking power in the upper house, where they have a record 12 senators, to pressure Labor over the policy.
Speaking to the Queensland Press Club on Friday, Mr Bandt will inflate tax cuts, which will cost $37 billion a year by the 2030s, saying the money could be better spent elsewhere.
“Labor proposes to increase inequality by including tax cuts for billionaires like Clive Palmer in its first budget,” he said in the Daily Mail Australia speech.
Labor is gearing up to commit the third-stage tax cuts that will destroy our progressive tax system, exacerbate inequality in this country and boost inflation.
“It means that working people in low-paid jobs are still under pressure, while billionaires like Clive Palmer get a $9,000 tax cut every year.
Labor needs to rethink these tax cuts for billionaires and save our progressive tax system before it’s too late.
“If these tax cuts continue for the very wealthy, we’ll be one step closer to the point where governments fail to provide the essential basic services people need to survive.”
The Greens want everyone in Australia to get dental care included in Medicare
This table from the Australia Institute shows how much Australians can expect to save on stage three tax cuts in 2024
Mr Bandt believes the austerity measures will propel Australia towards ‘American-style inequality’ and wants a new tax on billionaires to pay for free dental care and free childcare.
Let’s build a million affordable homes. Let’s make childcare free. Let’s tackle the climate crisis. We can do this without asking ordinary people to pay more,” he says.
Labor shouldn’t give Clive Palmer a tax cut when people can’t afford to get their teeth fixed.
“The Greens would rather get dental care in Medicare than give Clive Palmer a $9,000 a year tax cut.”
The Greens will not stop the functioning of government by blocking the supply, but are simply trying to change laws that are not essential.
We will try to adjust the first budget as Labor continues with tax cuts for billionaires and benefits to coal and gas companies. We will not sit and watch as Australia is sold out and sold out,” he will say.
The Greens also want to offer free childcare, paid for by a billionaire tax
Mr Bandt has vowed to be ‘constructive’ while warning ‘we are not a rubber stamp’.
“This is the critical decade for climate action. Inequality is getting out of hand,” he says.
Even though they have a majority government in the House of Representatives, it would be a mistake for Labor to try to take the growing cross-bank for granted.
‘The best results come from working together and putting people first.’
During the election campaign, Mr Albanese supported the third tax cut by saying: ‘I want people to have the assurance that they know what their income will be.’
Phase Three Tax Cuts Explained
The phase three cuts in 2024 will benefit anyone earning more than $45,000 by creating a 30 percent flat rate between $45,000 and $200,000.
They also raise the 45 percent threshold from $180,000 to $200,000.
Currently, income over $45,000 is taxed at 32.5 percent, over $120,000 at 37 percent, and over $180,000 at 45 percent.
Those who make more than $120,000 will benefit the most. A $211,250 politician gets a $9,075 tax cut. A registered nurse of $72,235 gets a tax cut of $681.
The changes were part of a three-stage tax reform package that was approved in 2019.
Phase two cuts, which left Aussies earning less than $120,000, were brought forward by two years to July 2020 due to the Covid-19 pandemic.