Over the summer, Anthony Albanese and any other Labor minister or MP who was asked swore tooth and nail the stage three tax cuts as legislated by the former Coalition government would be passed on in full.
That whole time, Labor was busy changing them. More than a million Australians are worse off as a result and all of us will pay almost $30 billion more in tax over the next ten years.
Whatever anyone may think about the change itself – One Nation won’t stand in the way of tax relief irrespective that it was not what was promised dozens of times – it has put the final nail in the coffin of the Prime Minister’s credibility. Albo is a shameless liar and nothing he says can be trusted.
Labor is now busy denying that any more tax changes are on the way – which is the surest possible sign they are definitely on the way.
Treasurer Jim Chalmers recently said Labor is not considering making family homes subject to capital gains tax. It’s the best indication that’s exactly what Labor is considering. Unions are calling for negative gearing and private health rebates to be scrapped; Labor says it’s not considering these, which very likely means it is considering them.
It’s only a matter of time before Labor comes after more of our money with more taxes it will promise it won’t introduce. How long will it be before they increase the GST rate? An example of how far they will go is their $3000 luxury tax on hybrid vehicles, a tranparent attempt to drive people to fully electric vehicles. What else will they tax?
Spending reform is what needs to happen before tax increases. Labor’s spending has already added more than $110 billion to Federal public debt across the forward estimates. Labor must address this wasteful spending before creating more taxes to bleed Australian families and businesses dry.