The leader of labor party, Bill Shorten has said that his party would like to reduce Australia’s marginal rates of taxation, but if only the budget can afford it.
Shorten was quizzed according their position at «nearly 50%» top marginal income tax rate during a doorstop interview on the campaign trail in Cairns. Shorten replied that it would be great to cut marginal rates of taxation, but you can do it only if you can pay for it.
Shorten said that the Prime Minister Malcolm Turnbull were returned to Government, all earning more than AUD1m (USD726,337) a year would “get a AUD17,000 tax cut.”
He argued that it is a bad idea…when you will cut benefits payments for people on AUD60,000 a year.”
Shorten also added: “Each one percent income for the very rich people to not well-off between AUD6bn and AUD7bn a year off the bottom line