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Oil & gas profits need to be on tax table: Greens

Adam Bandt 18 Nov 2015

In response to reports today that revenue from the Petroleum Resource Rent Tax is flat-lining despite the industry booming, Greens Treasury spokesperson Adam Bandt MP today called on the government to put resource taxation on the tax reform table.

Mr Bandt will write to Treasurer Scott Morrison to request the government’s tax green paper includes resource taxation.

“Today we’ve heard further reports of overseas companies ripping off Australians by aggressively minimising the tax that they pay,” Mr Bandt said.

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Greens will fight Government attempt to aid corporate tax avoidance

The Australian Greens say Malcolm Turnbull has exposed his true colours by rejecting an Australian Greens amendment that would have increased transparency in corporate tax avoidance.

"Malcolm Turnbull wants to push ahead with cuts to family support and a higher GST but he's not willing to crack down on corporate tax avoidance," said Greens Leader Richard Di Natale.

"The whole game is up. The Turnbull Government has shown today that it will protect the big end of town and slug ordinary people. Tax reform should start at the top, not at the bottom.

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Discussion on super lifetime caps welcome: Greens

Adam Bandt 11 Nov 2015

Greens Treasury spokesperson Adam Bandt MP today said the Greens are up for a discussion about tackling unfair tax breaks by putting a cap on voluntary superannuation contributions over a person’s lifetime and called on the government to put a costed superannuation policy on the table.

“We welcome any discussion about making sure superannuation looks after people in their retirement and isn’t used as a vehicle for tax minimisation, which it was never intended to be,” Mr Bandt said.

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Government must be ambitious with super reform: Greens

Adam Bandt 10 Nov 2015

Greens Treasury spokesperson Adam Bandt MP today called on the government to be ambitious with its plans to reform the superannuation system and said the Greens support ending unfair tax breaks.

“Superannuation tax concessions are projected to cost the Budget more than the aged pension itself, so we need to rein in unfair tax breaks,” Mr Bandt said.

“Now is no time to be timid.”

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Treasurer should include carbon tax in Tax White Paper: Greens

Adam Bandt 9 Nov 2015

Greens treasury spokesperson Adam Bandt MP today called on Treasurer Scott Morrison to include a carbon tax in the government’s Tax White Paper. Mr Bandt’s call comes after Parliamentary Library analysis showed that removing the current exemptions from the GST or increasing the GST to 12.5% would bring in a comparable amount of revenue to the original carbon tax, forecast to reach $29 a tonne, yet it will cost households around three to four times as much.

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Tax millionaires instead of GST: Greens

Adam Bandt 5 Nov 2015

Greens treasury spokesperson Adam Bandt MP today said that Prime Minister Malcolm Turnbull and Treasurer Scott Morrison are going the wrong way on tax by considering an increase to the GST and cuts to personal income tax. Mr Bandt called on the government to consider the Greens’ ‘Millionaire’s Tax’, which would see people earning incomes above $1 million pay an extra 5 per cent marginal tax.

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Greens will fight GST hike

Adam Bandt 2 Nov 2015

Greens Treasury spokesperson Adam Bandt MP says the Greens will fight the government's plan to push up the goods and services tax.

"The Greens will fight tooth and nail to stop any GST increase," Mr Bandt said.

"The last 24 hours have confirmed what we have feared for some time. Malcolm Turnbull is testing the waters to see how far he can hike up this regressive tax."

"We accept the Budget has a revenue problem, but there are better ways to raise revenue, such as removing unfair tax breaks for big polluters and the very wealthy."

 

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NAB’s multi-billion dollar profit shows big four can pay bank levy

Adam Bandt 28 Oct 2015

Greens Treasury spokesperson Adam Bandt MP today said NAB’s increased profit of $6.3 billion shows the big four banks can afford to pay a bank levy in recognition of their implicit public support. Mr Bandt called on Treasurer Scott Morrison to bring a bank levy for the big four banks only.

“NAB today has recorded a $6.3 billion profit and the big four banks combined are expected to post record profits topping $30 billion this year,” Mr Bandt said.

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Big banks winners from government Financial System Inquiry response: Greens

The Greens Treasury spokesperson Adam Bandt and Finance spokesperson Senator Peter Whish-Wilson today said that the big banks are the big winners from the government’s response to the Financial System Inquiry. The Greens said they will seek to ensure any measures to limit credit card fees also apply to ATM fees and called for stronger action to prevent future financial advice scandals.

“The big banks seem to be the winners from the government’s response to the Financial Systems Inquiry,” Mr Bandt said.

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Cracking down on multinational tax avoidance requires more than proposed law: Bandt

Adam Bandt 19 Oct 2015

Greens treasury spokesperson Adam Bandt MP today said the Greens will support the government’s Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015, but unless the government goes further, the problem of multinational tax avoidance will continue. Mr Bandt spoke on the bill today in the House of Representatives.

“If we want to have good schools and good hospitals in this country and a safety net that gives people a good income to retire on, then government needs to raise the revenue for it, which means tougher action than this bill proposes,” Mr Bandt said.

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