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A Labor tax policy I can get behind …

November 22, 2021 - 10:56 -- Admin

… Just joking, this is the Greens

A reduction in the inequities in the current tax and transfer system, including but not limited to:

  1. reform of the taxation of trusts, in order to reduce complexity and minimise tax avoidance;
  2. removing subsidies for the extraction and consumption of fossil fuels;
  3. redirecting funding from subsidising private health insurance towards direct public provision;
  4. reforms to the taxation of superannuation to benefit lower income earners;
  5. strengthening the progressivity of the income tax and transfer system across all income levels including by reducing effective marginal tax rates for low-income workers, and increasing the marginal tax rates on high-income earners; 
  6. the implementation of a tax on dynastic wealth, targeted at those bequeathing or gifting large amounts;
  7. the removal of tax exemptions for religious organisations that are not enjoyed by other charities and not-for-profit organisations;
  8. securing the tax and transfer system against manipulation and evasion, to ensure that everyone pays their fair share;
  9. a preference for taxation of income derived from capital instead of income derived from labour;
  10. the implementation of a progressive wealth tax on large concentrations of wealth, including anti-avoidance measures; and
  11. the implementation of a tax on company super-profits.