Tas stands alone in stolen generations compo scheme

Tas stands alone in stolen generations compo scheme

The Tasmanian Government last night defended its plan to raise income taxes on top earners, saying it would help reduce economic uncertainty as people looked abroad.

On Tuesday, Finance Minister James Merlino said the move would generate $80 billion in revenue per year, with $15 billion of that from taxes on businesses with profits of over $50,000.

The Government has said the Government would raise $35 billion from the changes over the next four years, although Mr Merlino has insisted that tax increases would be limited, and would only result in an economic windfall.

The plan has been met with criticism and speculation about the extent of the tax breaks, with Mr Merlino saying $10 billion for business in the state would result in $35 billion worth of tax savings annually충주출장샵.

It has also been suggested that the Government could take part in a scheme that would provide higher minimum incomes to people as an alternative way to stimulate growth, with the scheme paying into the Budget’s bottom line.

Prime Minister Kevin Rudd yesterday defended his plan, saying that Australia was facing significant structural budget and structural balance issues.

„This is not about tax increases, this is about managing deficits. It’s about reducing our dependence on foreign assistance,“ he said.

The move was defended by Treasurer Mike Nahan who said Mr Rudd’s claim that this would fund the deficit was overblown.

„The Government has been making a number of commitments, not all of which have materialised,“ he said.

„One of the biggest deficits we face and I think we have done a very good job of getting it under control is a $50 billion deficit, and that isn’t really goin공주출장샵g to fund us,“ Mr Nahan said.

Businesses would find „substantial“ tax relief if the Government made capital gains tax exempt, Mr Nahan said.

Ahead of the Government’s press conference on Wednesday afternoon, Mr Rudd said it would only have to pay into the Budget each year to ensure the Government remained solvent.

But the Treasurer claimed the only way it could keep the Government solvent was by increasing tax rates and increasing the GST.

„I can’t find the source of this $25 billion revenue to pay for the deficit청주출장안마, so this isn’t really about reducing the deficits.

„It’s not about making it easier for businesses to grow. It’s just to generate revenue to maintain the existing revenue base and to pay into the Budget each year.“