Labor frontbencher Chris Bowen will visit Banora Point on Friday 19th Feb to speak at a forum against an increase to the Goods and Services Tax.
Richmond MP Justine Elliot has invited residents to the talks, to be held at the Salvation Army Centre on the corner of Leisure and Woodlands Dr on Friday morning.
Prime Minister Malcolm Turbull was forced to clarify his position on GST today after his Employment Minister Michaelia Cash told Sky News the government hadn’t “taken the GST off the table, not at all.”
The PM quickly responded, telling media he would “not be taking a proposal to increase the GST to the election”.
But Mrs Elliot said the PM couldn’t be trusted to stick to the promise.
“They’ve broken all their promises since the last election and they still have plans to raise the GST to 15% and put it on everything,” Mrs Elliot said.
Mrs Elliot said Tweed residents were increasingly worried about the GST rising to 15%.
“They are worried about their bills increasing for everything,” she said.
“All the bills will go up, electricity, rent, groceries, fresh food and petrol.”
Treasury modelling has revealed people on the lowest income would be hit hardest by a GST hike, and that the increase would provide no net economic benefit.
“Increasing the GST to 15% will see household costs rise on average by almost $4000 a year,” Mrs Elliot said.?
Mr Bowen, who served as Treasurer under former PM Kevin Rudd, is expected to speak on Labor’s proposed budget under Bill Shorten, should Labor win office in the upcoming poll later this year.
Mrs Elliot said Labor’s policy would be to limit negative gearing to new housing from July 1, 2017, with investments made before that date not affected.
She said under a Labor Government, the capital gains subsidy for assets purchased after July 1, 2017 would be halved, reducing the Capital Gains Tax discount from 50% to 25%.
The event kicks off at 10.30am. All welcome.