Treasurer Warns: Aussies Pay More Tax Under Labor
The Hon Angus Taylor MP
Shadow Treasurer
Jim Chalmers has today confirmed that he does not know how much he is taxing Australians.
Australian taxpayers are being smashed under Labor’s economic mismanagement with the average taxpayer in this year alone forking out $3,500 more in tax compared to when Jim Chalmers became Treasurer. That’s $7,000 more in tax for a dual income household.
This analysis includes Labor’s Cost of Living Tax Cuts and is based on the numbers in Jim Chalmers’ own Budget.
The Treasurer is more interested in fighting the Opposition than he is in fighting for Australians. For Jim Chalmers, the tax paid by Australians is just something he can spend – not something Australians work hard for.
Australians are paying more because of Labor’s reckless policies and irresponsible spending.
The Treasurer confirmed today despite higher taxes and higher inflation, he has turned windfall surpluses into ongoing deficits, which will only put further pressure on prices and further pressure on debt. Ultimately, Jim Chalmers and Labor are relying on hard-working Australians to pick up the tab through higher taxes.
Jim Chalmers is patting himself on the back while Australians suffer the largest fall in living standards on record.
This yet another example of a distracted government focusing on the wrong priorities.
Treasury analysis of Labor’s changes to the stage 3 tax cuts showed that over the decade, taxes would increase by $28 billion by 2034 compared to the original policy.
Analysis of PBO data shows that on a household level, that impact will be profound. The average taxpayer will be paying over $8,900 in more tax from the 2028-2029 tax year compared to 2021-22 levels, if Labor’s Budget settings continue for another four years. That’s almost $18,000 for a dual income household.
Shadow Treasurer Angus Taylor said Chalmers’ gaffe proves the Treasurer’s speciality is spin, not economics.
“Australians are paying the price for this out-of-touch Treasurer who does not even know how much tax Australians are paying,” Mr Taylor said.
“Labor’s only plan to fix the budget is to take from family budgets to bolster their own.
“Labor has broken every promise on tax it made before the last election, and hard-working Australians are paying the price.
“This is the biggest spending, biggest taxing government in Australian history. It is clear taxes are on the rise if Labor’s policy settings continue.
“Labor abolished the tax cap in its first budget, the Coalition will restore it.
“This upcoming budget must restore a tax to GDP cap and fiscal guardrails to reduce wasteful spending so Australians don’t face higher taxes on top of higher inflation.
“Australians cannot afford another three years of Labor’s economy.”
https://nswliberal.org.au/news/treasurer-s-tax-hit-australians-paying-thousands-more-in-tax-under-labor