Tax rates cuts on the table
Malcolm Turnbull (right) has revealed he is actively working with Treasurer Scott Morrison to slash income tax rates, telling struggling families he wants to put more money in their pockets. A growing group of Coalition MPs was lobbying Mr Turnbull to deliver income tax relief as soon as next year.
MALCOLM Turnbull has revealed he is actively working with Treasurer Scott Morrison to slash income tax rates, telling struggling families he wants to put more money in their pockets.
The Prime Minister last night said bracket creep – which is forcing up taxes on middle-income workers – was “a constant challenge”.
“Higher taxes penalise people who are trying to get ahead,” he said. “But when you reward hard work and enterprise, you encourage hard work and enterprise.
“My commitment to all Australians is this: whether you are starting out in your first job, a worker providing for their family, or a business hiring staff, our goal is always to leave more money in your pocket, not in ours.”
It came after News Corp revealed a growing group of Coalition MPs was lobbying Mr Turnbull to deliver income tax relief as soon as next year.
Some argue the planned company tax cuts could be delayed to accommodate lower personal tax rates.
Mr Turnbull last night told the Business Council of Australia income tax reforms he proposed as a new MP in 2005 had “aged rather well”.
“Just because we are in challenging fiscal times does not mean we should raise the white flag on making the tax system work better,” he said.
“I am actively working with the Treasurer and my Cabinet colleagues to ease the burden on middle-income Australians, while also meeting our commitment to return the Budget to surplus.”
But the PM is under pressure from Labor and the Greens, who joined with independent MP Bob Katter after the decision to delay next week’s planned return to Parliament until December 4.
The Federal Government has postponed next week’s sitting of the House of Representatives in a move that has been described by Labor as “cowardly” and “like something out of a dictatorship”.
The Government’s majority would be placed at risk without the Nationals’ Barnaby Joyce and Liberal John Alexander, who face by-elections after both were found to be foreign citizens.
Government leader in the Lower House, Christopher Pyne, said the Government wanted to legalise same-sex marriage before Christmas and allow the House and the Senate to “do all they can to resolve the citizenship issue”.