The simple,obvious truth is that if we want more services without loss of quality,we’ll have to pay higher taxes.
Australian taxpayers are also being asked to pay more than $100 million to settle a tax dispute in PNG to keep telecommunications assets out of Chinese hands.
Adam Bandt will campaign in the heart of the oil and gas sector with plans to raise an extra $90 billion in tax over the next decade.
Cost-of-living relief was promised to all Australians with a budget cut in fuel excise,but it will leave many truck drivers struggling to pay their bills.
In his 2020 budget,Josh Frydenberg expected a $232 billion collapse in revenues. But it didn’t eventuate and an extra $100 billion will be banked on Tuesday.
Businesses are using the new 25 per cent company rate to spend more on capital goods and lift wages,but there are calls for Tuesday’s budget to go further.
In a clear sign he will unveil tougher tax rules,Labor leader Anthony Albanese named multinational companies as a group that could pay more tax.
Tax from iron ore miners and banks are buoying the budget,with figures also confirming no rivers of revenue from big technology companies.
Greens leader Adam Bandt says Australians are “being ripped off by multinational corporations”,outlining measures he says will block them from avoiding Australian company tax.
Leaders of the world’s biggest economies have endorsed a global minimum tax on corporations,a linchpin of new international tax rules aimed at blunting the edge of fiscal paradises.
The ATO estimates nearly $34 billion worth of tax was not paid in the year before the pandemic hit,with small businesses responsible for the majority.