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Category: Tax / Government and Politics / Scott Morrison / Greens / Superannuation

Morrison welcomes Greens' input on tax debate

Wednesday, 10 Feb 2016 08:26:24 | Matthew Doran

Scott Morrison has welcomed the input of the Greens in the nation's tax debate. (ABC News: Matthew Roberts)

Federal Treasurer Scott Morrison has welcomed the input of the Greens in the nation's tax debate, after the party offered to negotiate with the Government on changes to superannuation concessions and negative gearing.

Greens MP Adam Bandt wrote to Mr Morrison on Tuesday, asking the Government to consider a "Plan B" for tax changes, based on his party's longstanding policies.

Key to "Plan B" is scaling back superannuation tax concessions for high income earners.

"If we had a progressive tax system where those who are earning more than $100,000 start paying a bit more than they are now, we could save $3 billion a year," Mr Bandt said.

Mr Bandt said the party was open to negotiation on superannuation, however they would not move from their position to remove negative gearing on all new properties.

That proposal would not include existing investments.

"In the future, you've got to ask yourself why is the Government making it harder for people to buy their first home, but giving scarce money to people to buy their second, third or fourth home?" Mr Bandt said.

"So we've proposed to the Government that they grandfather it, and over 10 years that could save the budget somewhere in the order of $40 billion."

Shorten concerned about what Greens will 'come up with'

It is not the first time the Greens have offered to work with the Government, having previously offered their support on multinational tax avoidance legislation and changes to pensions.

"The Government welcomes contributions to the debate including from the Greens who we have already worked with to introduce new laws to ensure multinationals pay their fair share of tax laws that Labor opposed," Mr Morrison said.

"The Government has always been clear that our core goal in this process is to reduce the tax burden on Australians who are working, saving and investing.

"While there are plenty of parties who are keen to tell the Government how to raise taxes, the Government is more focused how, over time, we can reduce taxes and improve the efficiency and simplicity of our tax system."

Opposition Leader Bill Shorten has urged caution.

"The last time the Greens worked with the Liberals on tax we saw some large companies still able to shroud their tax affairs in secrecy," Mr Shorten said.

"Remember, the Greens did a dirty deal with the Liberals and increased the threshold before which Australians could see what companies are doing in the payment of their tax.

"So I'm very concerned, not that the Greens are working with the Liberals, but what they're actually going to come up with, and so far it's led to a diminution in the transparency of the tax arrangements of large Australian companies.

"There is no single issue in taxation which aggravates everyday Australians more than the really frustrating sense that large companies, multinationals and large Australian companies, are getting away with not paying their fair share of taxation."

External Link: Super and negative gearing modelling

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