Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

In 2000, when there was a new tax system, we delivered personal income tax cuts in the order of $12 billion a year—at that time the greatest in our nation's history. In 2003-04, there were further tax cuts of $10.7 billion; 2004-005, tax cuts of $14.7 billion; and 2005-06, tax cuts of $21.7 billion over four years. In the 2006-07 budget, they built on this with further reductions in personal income taxes of $36.7 billion over four years. The coalition government also cut the company tax rate from 36 per cent down to 30 per cent.

When we came to government, we did something that those opposite have trouble doing. When we came to government, we said that we would get rid of the carbon tax. We said that we would get rid of the mining tax. When those opposite railed against the GST when in opposition for all of those years, did they change it? Did they roll it back? No, they rolled over on rolling it back. What we know from those opposite is that they crow about all these things in opposition, but if they ever get the chance to do anything about anything that they have banged on about in opposition, they do not follow through. But when we say we will get rid of taxes, that is what we do. We got rid of the carbon tax. We got rid of the mining tax. And, on top of that, we have also got rid of the bank deposits tax that was introduced by the now shadow Treasurer when he was Treasurer. So this government gets rid of taxes. We reduce taxes, because we know a better tax system is going to encourage Australians. It is going to back Australians. We have form on cutting taxes and reducing taxes. When we talk about a better tax system, that is what we are about achieving. When it comes to tax reform, those opposite are on a smoko.

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