The American government has taken decisive action by providing tax relief for workers, families and businesses. It’s time our elected representatives did the same. Unless parliament acts now, Australia could drive itself into recession.
The American tax cuts will:
- Ensure that 80% of workers pay less tax, with a family of 4 on media income paying $2000 USD less a year in income tax.
- Lower company tax from 35% to 21%, attracting investment while simultaneously boosting hiring and wages.
- Simplify the tax code, allowing 94% of Americans to file returns simply and easily without professional help
By contrast, Canberra’s failure to take action now by overhauling our system will:
- See ordinary Australians continue to pay more in tax every year, with hikes to medicare levy and bracket creep.
- Keep Australia uncompetitive against our trading partners, potentially driving us into recession.
- Continue to drive jobs, investment and talent to America where the tax environment is more business and worker-friendly – reducing economic growth by a full percentage point, according to the Australian treasury.
Multiple companies have already pledged to invest billions in American jobs, wages, ventures and infrastructure.
Contact your MP today to ensure that Australian families and businesses are not left behind while more decisive economies reap the benefits of tax reform. Let’s make our tax system simpler, fairer and flatter.