Answers to Questions

Ghosh defended the government's policy changes, arguing that circumstances had changed and working Australians needed assistance with the cost of living and housing. Ghosh highlighted the Working Australians Tax Offset, which reduces annual tax by $250, contributing to a total average reduction of $2,816 since 2023. Ghosh cited data indicating that capital gains benefits disproportionately accrue to the top 10 per cent of earners. Ghosh argued that negative gearing currently subsidises investors who make profits while paying less tax than if they had not purchased the property.

Antic criticised the government for releasing a consultation paper on capital gains tax reform for innovative startups without clear details on how innovation would be determined. Antic argued that leaving these decisions to Canberra bureaucrats was dangerous, drawing parallels to bureaucratic overreach during the COVID-19 pandemic. Antic contended that the tax system had become overly complicated, forcing citizens to spend thousands of dollars annually on compliance. Antic claimed the government was picking favourites and implementing changes without a proper plan, leading to backlash from industry.

Tyrrell stated that the tax reforms were necessary to improve the quality of life for workers, businesses, and future generations in Tasmania. Tyrrell emphasised that the government was delivering tax cuts for over 13 million workers to help them save for homes and raise families. Tyrrell argued that the reforms would support investment and innovation, ensuring that industry and business remained in Australia. Tyrrell defended her political evolution and collaboration with other parties as a means to achieve better outcomes for her community.

Cadell argued that the government was increasing the overall tax burden despite offering a $250 upfront payment through the Working Australians Tax Offset. Cadell disputed the Minister for Finance's comparison of Australian tax rates with those in England, the United States, and Germany, noting that Australia's top marginal rate of 47 per cent was higher. Cadell cited Treasury documents predicting 35,000 fewer homes would be built under the new taxation plan. Cadell claimed the reforms would tax young people more heavily on their savings, making it harder for them to afford house deposits.