Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The Leader of the Opposition wants to talk about tax, so let us talk about tax. He is proposing that the half a per cent increase would come in at $87,000. That is what he said. He said that was very fair. Let us take an example. Let us consider Mary, an experienced midwife in New South Wales. She earns $87,000. Under Labor's policy, if Mary earned an additional dollar she would begin paying an additional half a per cent on her entire income. So, on the additional $1 that Mary earns, she would pay an additional $435.39 in tax. That is an effective marginal tax rate of 43,539 per cent.

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