Michael Sukkar MP

DEPUTY LEADER REAFFIRMS LABOR’S COMMITMENT TO HIGHER TAXES

THE HON MICHAEL SUKKAR MP
Assistant Treasurer
Minister for Housing
Minister for Homelessness, Social and Community Housing

MEDIA RELEASE

Monday 22 November 2021

DEPUTY LEADER REAFFIRMS LABOR’S COMMITMENT TO HIGHER TAXES

Deputy Leader Richard Marles has today again shown Labor are preparing to slug Australian families and businesses with higher taxes.

Speaking on Sky News this morning, Richard Marles was asked directly to “rule out tax increases right now for ordinary Australians.”

Marles: “Well, as I said, we will make our positions clear before the next election.”

“We will make clear what our positions are before the next election.”

By failing to be upfront and rule out tax hikes when asked directly, is it clear Labor is gearing up to slug hardworking Australians and businesses with higher taxes. This follows on from similar refusals to rule out tax increases from Labor’s shadow treasurer Jim Chalmers yesterday.

It is clear that the Labor Party has failed to learn the lessons of the 2019 election and are dedicated to reigniting the class warfare that we saw under Bill Shorten. The Australian people rejected Labor’s plans for $387 billion of higher taxes at the last election. But Labor has proved they remain committed to introducing their unpopular tax and spend agenda.

Small and medium sized businesses deserve the security of knowing that they are able to keep more of their own money, enabling them to grow their businesses, employ more Australians and keep our economy moving forward.

The Morrison Government is lowering the tax burden on Australian businesses. The tax rate faced by small and medium businesses with a turnover of up to $50 million will fall to 25% from 1 July 2021, the lowest rate in more than 50 years.

Labor’s approach is to increase taxes on small family businesses that are operated as discretionary trusts, a $27 billion hit on business at a time when they are just recovering from a pandemic.

Since the Coalition came to government, we have continually lowered taxes for small business and individuals. If we are re-elected, we will focus on lowering taxes even further. In contrast, higher taxes are simply in Labor’s DNA.

The last thing the economy needs as we continue our recovery from the pandemic is higher taxes.

Only the Liberals and Nationals can be trusted to deliver lower taxes for Australians.