TAX policy is shaping up as a defining issue between the two major parties in Corangamite, with the Liberals\u2019 Sarah Henderson praising the passage of her government\u2019s personal income tax plan through Parliament and Labor\u2019s Libby Coker rubbishing it.<\/p>\n
The $144 billion tax plan will be rolled out in three stages over seven years \u2013 stage one is for low and middle-income earners, stage two is for those earning over $90,000, while stage three is for those earning more than $120,000. Tax brackets will also be lifted.<\/p>\n
\u201cTaxes in Australia will now be lower, fairer and simpler; 64,558 people and their families\u00a0 in my electorate of Corangamite will benefit from tax relief of up to $530 in 2018-19,\u201d Ms Henderson said.<\/p>\n
\u201cThis is a win for all working Australians who want to get ahead. You will have the certainty that when you earn more, get a pay rise or work more hours, you won\u2019t face everincreasing tax rates.<\/p>\n
Under our plan, 94 per cent of Australian workers will not face higher marginal tax\u00a0rate of more than 32.5 cents in the dollar, with our first priority low and middle income earners because we understand the benefits of a stronger economy have not yet flowed to all.\u201d<\/p>\n
Ms Coker said the Prime Minister and the Liberals \u201cjust voted to give themselves a $7,000 tax cut\u201d.<\/p>\n
\u201cAnd what are they cutting to pay for this? Our local schools and hospitals. Next on their agenda is the Liberal promise of a $17 billion corporate tax cut to the big banks.\u201d<\/p>\n
Labor has promised to repeal stages two and three of the package \u2013 which Ms Coker described as \u201cTurnbull\u2019s tax cut for the top end of town\u201d \u2013 and instead \u201cdeliver bigger tax cuts to the people who need it most: working and middle class Australians\u201d.<\/p>\n
Ms Henderson said Labor\u2019s policy would cost taxpayers $70 billion in extra income tax over the next decade.<\/p>\n","protected":false},"excerpt":{"rendered":"
TAX policy is shaping up as a defining issue between the two major parties in Corangamite, with the Liberals\u2019 Sarah Henderson praising the passage of her government\u2019s personal income tax plan through Parliament and Labor\u2019s Libby Coker rubbishing it. The $144 billion tax plan will be rolled out in three stages over seven years \u2013 […]<\/p>\n