tax burden on Australian economy

Senator Leyonhjelm’s Bill to Abolish Sin Taxes

Liberal Democrats Senator David Leyonhjelm has introduced a bill to parliament to almost halve Commonwealth tax collections.

The Lower Tax Bill 2018 reduces income tax to a flat rate of 20%, while lifting the tax-free threshold to $40,000, saving a typical worker more than $6,000 a year.

My bill abolishes fuel tax, delivering motorists $1 fuel for the first time in decades,’ Senator Leyonhjelm said.

The bill abolishes alcohol tax, saving 75 cents from a can or pot of beer, and $25 from a bottle of spirits.

The bill abolishes tobacco tax, taking $20 off the price of a pack of cigarettes.

The bill reduces the company tax rate to 20 per cent, protecting investment and jobs in Australia.

The bill abolishes Australia’s remaining array of bizarre ad hoc import tariffs, that will deliver cheaper goods as diverse as cars, clothes and towels, guitars, umbrellas, almonds and maple syrup.’

Do high income earners pay too much tax? Click here to have your say.

Liberal plans to halve tax collections

The bill also abolishes the luxury car tax to further cut the price of cars, and the passenger movement charge, which will help our tourism industry.

My plan to nearly halve Commonwealth tax collections is responsible and doable because it is coupled with even greater cuts to Commonwealth Government spending,’ Senator Leyonhjelm said.

Both the spending cuts and tax cuts have been independently costed and published by the Parliamentary Budget Office.

My bill to slash tax will not pass the parliament in the final sitting weeks before the election. But for each tax cut detailed in the bill, it will allow us to ask the major parties “Why not?”

My bill also demonstrates to voters that there is only one party serious about easing their tax burden, and that’s the Liberal Democrats.’

PS: The tax burden on Australians has grown by leaps and bounds in our lifetime, and shows little sign of reversing. You may think you know who’s responsible for rising taxes. But as we reveal in our free new report — ‘What you could do to stop Australia’s Tax Freedom Day from blowing out even further in 2018’ — you may have it all wrong…Click here for more.

The Australian Tribune with Press Release

The Australian Tribune with Press Release

The Australian Tribune with Press Release

Comments: 1

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  1. Senator Leyonhjelm’s salary is being paid by taxpayers. The first item of Government spending that should be cut is the amount of salary paid to politicians who make ignorant or deliberately misleading statements. Taxation as it currently is is to enable a fairer society than would be the case if people who engage in destructive lifestyles did not have the problem causing substances they consume taxed to pay for the effects on non-consumers. Also, high income earners have social status which opens doors for them that are not opened to lower income people, and which allows high income people to further earn disproportionally more than their work is worth whilst low income earners struggle as result of the inflation of prices that high income earners market behavior causes.