Greens urge extension of deficit levy

The Australian Greens have urged the Turnbull Government to make the temporary 2% budget repair levy on high-income individuals earning more than $180,000, which was implemented by the Abbott Government in the 2014 Budget and is due to expire next July, permanent. From The Canberra Times:

…the Greens are calling on the Turnbull government to make that 2 per cent loading permanent, and also to introduce a new 50 per cent tax bracket specifically for ultra-high income Australians earning more than a million dollars a year.

Modelling by the Parliamentary Budget Office, obtained by Fairfax Media, and commissioned by the Greens, shows such an initiative would affect a small minority of taxpayers, and raise $4 billion over the next four years.

According to the modelling, which has been signed by Parliamentary Budget Officer Phil Bowen, if the temporary budget repair levy was made permanent it would affect only the top 1.3 per cent of taxpayers, 382,000 people.

more :

http://www.macrobusiness.com.au/2016/03/greens-urge-extension-of-deficit-levy/

Its time wrote on Mar 17^th, 2016 at 10:54am: