INCREASED TAXES TO PAY FOR KEVIN RUDD’S STIMULUS PAYMENTS
August 20, 2009
Fears are mounting that a higher petrol excise and new taxes will be introduced to help pay for the Rudd Government’s economic stimulus splurge.
Federal Treasurer Wayne Swan has repeatedly failed to rule out new taxes in Parliament this week with The Nationals Member for Gippsland Darren Chester expressing concerns about reports of plans to charge a de facto tax for living in the family home.
An extract from the Henry Tax Review discussion paper published today reported that “the exemption of the principal residence from capital gains tax (CGT) is raised as an issue.”
Mr Chester said Kevin Rudd should not slug Gippsland and Latrobe Valley families who have worked hard and made sacrifices to buy their own home in order to pay for his extravagant spending.
“Latrobe Valley residents who have worked hard all their lives to buy their own home should not be slugged with the extra burden of repaying Kevin Rudd’s debts,” Mr Chester said.
“Reports of charging a de facto tax to live in your own home are absurd and should be immediately ruled out by the Prime Minister.
“Likewise, subjecting the family home to Capital Gains Tax (CGT) is a tax grab that will hurt those families who have made sacrifices and worked hard to achieve the great Australian dream of owning their own home.”
There have also been reports this week of plans to introduce a new income tax of 3% for all earnings above $150,000 and for Kevin Rudd to increase the excise on fuel by 10%.
“Latrobe Valley motorists already experience some of the highest fuel prices in Victoria and an extra fuel excise would have a huge effect on local families,” Mr Chester said.
“The former Coalition Government spent 10 years building up a savings bank for Australians and Kevin Rudd has spent all of it then borrowed more money in just 22 months. By 2013-14, the Rudd Government will have burdened Australians with an unprecedented gross debt of $315 billion.
“That’s over $13,000 of debt for every man, every woman and every child in Australia as a direct consequence of Kevin Rudd’s reckless spending.”