The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

12 July 2011

NO.086

Will Tony Abbott be Stopped from Clawing Back Tax Cuts,
Increased Payments and a Boost to the Pension

Today the Government calls on all Opposition Members and Senators to declare if they will follow Tony Abbott and vote against cost of living help that will leave millions of Australian household budgets better off.

The Government will deliver cost of living help to Australian households for price impacts flowing from the carbon price by introducing separate legislation into the Parliament.

The Government will deliver household assistance that:

  • Delivers a pension increase on average $210 over and above the average price impact for a pensioner household, across 1.85 million pensioner households (including full and part-rate pensioners);
  • Increases the tax-free threshold from $6,000 to $18,200 in 2012 and to $19,400 in 2015, taking over 1 million Australians out of the tax system – a major tax reform that will provide more reward for work;
  • Delivers a tax cut to everyone earning up to $80,000, with most getting a tax cut of at least $300;
  • Provides a 20 per cent buffer over and above the average expected price increase for over 4 million Australian households;
  • Covers the full average expected price increase for almost 6 million Australian households.

Mr Abbott has made it very clear that he will vote against all of these measures.

"I don't believe there are any parts of this package that we will keep"

ABBOTT – 3AW – 11 JULY 2011

"We will be opposing all the Government's legislation"

ABBOTT – PRESS CONFERENCE – 10 JULY 2011

Joe Hockey has been less certain:

"We will be closely looking at the legislation to see what its real impact is on people"

HOCKEY – ABC NEWS 24 – 11 JULY 2011

It's now time for the Opposition to clarify its position and for individual Members and Senators to declare whether they will oppose this cost of living relief for Australian families, pensioners and individuals.

And claims that Mr Abbott makes about alternative tax relief must be accompanied by details of the amount Australians can expect, as well as how this tax relief will be funded and its impact on the budget bottom line if the Coalition is to have any credibility.

CANBERRA
12 July 2011