Taxation

Related policies

  • Housing
  • Jobs & Economy
  • Planning & Development
  • Trade

Policy

Implement a simpler and fairer tax system.

Policy Methods (Federal)

To help achieve this Sustainable Australia Party will:

  • End multinational tax avoidance and profit shifting to low or no tax jurisdictions so that such multinationals pay their fair share of tax on sales in Australia

  • Prohibit corporations from claiming tax deductions for any interest paid to related entities based overseas. 
  • Introduce a 50% Diverted Profits Tax (or ‘Google Tax’) on profits sent overseas for corporations deemed to have arranged their business structure to avoid tax.
  • Offer residential property buyers the option of paying current stamp duties or an annual land tax (also see Housing Policy).(5)
  • Higher housing taxes on foreign buyers (also see Housing policy).
  • Remove the 50 per cent discount of capital gains tax on taxable Australian property (non-principal place of residence) (also see Housing Policy).
  • Abolish negative gearing on taxable Australian property (also see Housing Policy).
  • Reduce the company tax rate for local manufacturing from 30% to 25%.
  • Adopt a Resource Super Profit Tax for iron ore and coal, the details of which would be determined following the implementation of a full resource audit and depletion protocol policy.
  • Tax incentives (including lower payroll tax, land tax and rates) for businesses that transfer their capital investment into prioritised productive (particularly value-added manufacturing) industries and/or regional centres with declining populations.
  • Introduce the personal income tax "Buffett Rule" meaning that high income earners (over $1 million per year) pay at least 30% personal income tax (as of 2019/20 normal taxpayers pay 32.5c for each $1 earnt over $37,000, plus Medicare levy).
  • Recognise and resolve the massive increase in taxes, charges and infrastructure productivity costs caused by rapid population growth.

"It used to be easy to deliver infrastructure when the government owned the land, but because our major cities are already planned and built up, there is no room to retro-fit new infrastructure without expensive additions like land buy-backs and tunnelling." William Bourke

"The unthinkable truth is that unless we invest in enough additional housing, business equipment and public infrastructure to accommodate the extra workers and their families, this lack of “capital widening” reduces our physical capital per person and so reduces our productivity." MacroBusiness

"There is no reason why Australia's ageing population should put health budgets under pressure, given the amount of untaxed wealth in the economy..." Australian Broadcasting Corporation


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