Goods and Services Tax
I rise today to stand with my colleagues in opposing any changes to the GST. NATSEM modelling shows that an increase in the rate of the GST to 15 per cent would see people in the lowest 20 per cent of income brackets paying seven per cent more, while people in the highest 20 per cent income bracket would pay just three per cent more of their income.
This modelling confirms what the Labor Party already knew: any change to the GST will unfairly impact low- and middle-income families the most. So talk of fairness is a complete nonsense. It is something the community understands. I would now like to read a letter I received from Michaela, who lives in my electorate. Michaela writes:
Our family will really struggle if there is an increase in both the depth of the GST (in terms of amount) and breadth (in terms of enveloping all Goods and Services).
Please vote NO to the proposed increase in Goods and Services tax – I have no doubt that from 15% it will grow to 20% and it will be the small retailers, and the middle class and workers who are hurt the worst.
Australia needs to continue to support the people who actually do work, and pay taxes.
Malcolm Turnbull's plan to increase the GST—and hurt low- and middle-income earners—shows just how out of touch he is with the cost-of-living pressures facing Australian families. The Labor Party will oppose it and, on behalf of Canberrans, I will also oppose it.
I also want to say quickly say hi to the Venturers who are in the gallery at the moment. Welcome to Canberra. I hope you are having a great time.