5 years ago
FROM TRAIN WRECK TO FACT CHECK
ANDREW LEIGH MP
Less than a day after an interview in which he muddled up full-time and part-time jobs, Mr Robert has been exposed as misleading Australians over Labor’s plans to reform the unsustainable system of refundable excess franking credits.
The Coalition has waged a scare campaign against Labor’s plans to close tax loopholes used by the wealthiest Australians.
Independent analysis has shown that 92 per cent of taxpayers are unaffected by the change to refundable excess franking credits. Eighty per cent of the benefits flow to the top fifth of retirees.
Mr Robert claims this “is not fair” and that the policy will affect “the lowest paid”.
If Mr Robert won’t listen to the Parliamentary Budget Office, Treasury analysis or expert analysis by the Grattan Institute, he would do well to read the RMIT ABC Fact Check that stated:
'Mr Robert's claim is misleading.
'He suggests Australia's least well off will bear the brunt of the pain.'
The Fact Check further stated:
‘… using the taxable income of individuals tells us little about the overall financial position of those affected, or about the fairness or otherwise of Labor's policy…
… almost half of the wealthiest 10 per cent of those over 65 report income of less than the $18,200 tax free threshold and thus pay no tax. On average, however, this group had wealth of nearly $2 million, even before factoring in the value of their home or other property assets.'
Mr Robert’s false attacks on Labor are characteristic of a government that stands against so much and for so little.
The Coalition has waged a scare campaign against Labor’s plans to close tax loopholes used by the wealthiest Australians.
Independent analysis has shown that 92 per cent of taxpayers are unaffected by the change to refundable excess franking credits. Eighty per cent of the benefits flow to the top fifth of retirees.
Mr Robert claims this “is not fair” and that the policy will affect “the lowest paid”.
If Mr Robert won’t listen to the Parliamentary Budget Office, Treasury analysis or expert analysis by the Grattan Institute, he would do well to read the RMIT ABC Fact Check that stated:
'Mr Robert's claim is misleading.
'He suggests Australia's least well off will bear the brunt of the pain.'
The Fact Check further stated:
‘… using the taxable income of individuals tells us little about the overall financial position of those affected, or about the fairness or otherwise of Labor's policy…
… almost half of the wealthiest 10 per cent of those over 65 report income of less than the $18,200 tax free threshold and thus pay no tax. On average, however, this group had wealth of nearly $2 million, even before factoring in the value of their home or other property assets.'
Mr Robert’s false attacks on Labor are characteristic of a government that stands against so much and for so little.