Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

So the implication of this question is that the Labor Party has a policy to have different income tax rates in different electorates; is that what you are suggesting? Are you suggesting that we should have an income tax system that is electorate specific? Let me tell you what the impact of our personal income tax cuts is. Somebody on an income of $30,000 will get an 8.3 per cent income tax cut every year over the next four years under our plan, whereas somebody on $200,000, which you of course describe as the undeserving rich, will get an income tax cut of 0.2 per cent. So it is 8.3 per cent for somebody on $30,000 and 0.2 per cent for somebody on $200,000.

Our proposal is to provide income tax relief to hardworking families, prioritising low- to middle-income earners but providing income tax relief for all working Australians, making sure that working Australians don't go backwards because they are subjected to bracket creep as inflation drives up their income and, as they work a bit harder, as they go into a higher tax bracket. The Labor Party wants to hit them with higher taxes. We want to provide the right incentive, the right reward for effort and the right encouragement for Australians to be the best they can be. Of course I completely reject the question's proposition.