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Economy and Taxation
Coalition
- Scrap Mineral Resource Rent Tax
- Lower company tax rate by 1.5 per cent
- 1.5 per cent parental leave levy on big business
- Return budget to surplus in 2012-13 financial year
- No ETS (Emission Trading Scheme) unless world acts first
Labor
- Lower company tax rate by 1 per cent
- $5,000 rebate for small businesses
- Rollout Mineral Resource Rent Tax of 30 per cent of super profits from major iron ore and coal companies
- Petroleum Resource Rent Tax extended to all onshore oil and gas projects
- Return budget to surplus in 2012-13 financial year
- Move to ETS via community consultation
Greens
- Reduce tax breaks for high income earners ( I really have no idea what this means. I have tried to look on the Green’s website and media and this is not spelt out)
- Remove Fringe Benefits Tax concessions which promote increased use of motor vehicles
- Remove the concessional arrangements for Capital Gains Tax
- Abolish Private Health Insurance REbate
- Tax family trusts like companies
- Introduce estate tax on homes, farms or businesses over $5 million
- Introduce 50 per cent tax rate on incomes of $1 million or over
- Support original form of resource super profits tax
- Price on carbon leading to a ETS
- Implement a gradual and long term shift in the tax system from work based taxes to taxes on natural resources and pollution
Photo by Andre Taissin on Unsplash
