Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024

The majority voted against an amendment introduced by Brisbane MP Stephen Bates (Greens) to an original amendment, which means the original amendment will remain unchanged.

Amendment

That all words after "House" be omitted with a view to substituting the following words: "

(1) notes that these revised tax cuts will still make economic inequality in Australia worse by:

(a) giving politicians and CEOs on incomes more than $200,000 three times the value of tax cuts compared to the average worker;

(b) only providing the poorest 20 per cent of society with 0.4 per cent of the share of tax cuts next financial year, compared to the wealthiest 20 per cent of society who will enjoy half the total value of the tax cuts;

(c) exacerbating the gender pay gap, with 42 per cent of the tax cuts going to women and 58 per cent to men; and

(d) starving the budget by a jaw-dropping $318 billion over the decade, removing revenue that could support people who rely on aged care services, disability support, income support and families who depend on the public education and health systems; and

(2) calls on the government to redesign the tax cuts to not give the wealthiest in society $4,529 a year and instead redirect this largesse to expanding public services like mental health and dental into Medicare and financial support for those earning below the tax free threshold in this cost of living crisis".

Original amendment

That all words after "That" be omitted with a view to substituting the following words:

"whilst not declining to give the bill a second reading, the House notes:

(1) this Government has mismanaged the economy and made a deliberate decision to break promises and raise taxes;

(2) the Coalition is committed to lower, simpler and fairer taxes;

(3) because Australians are hurting from the Government's mismanagement of the economy, the Coalition will not oppose the reduction in the 19c tax rate to 16c;

(4) the Coalition is committed to going to the next election with a tax reform package that is in keeping with the stage 3 tax cuts; and

(5) the Coalition's package will:

a. deliver lower, simpler, and fairer taxes;

b. fight bracket creep and enshrine aspiration in our tax system;

c. reward hard work and support a strong economy where every Australian can get ahead; and

d. unite, rather than pit Australians against each other".