While we’ve all made sacrifices, since the pandemic began Australian billionaires have increased their wealth by over $90 billion. Gina Rinehart alone has increased her wealth from $16 billion to $36 billion. Meanwhile 1 in 3 big corporations pay zero dollars in tax.
It’s not right that while everyday Australians pay tax, billionaires and big corporations use their power to avoid paying billions of dollars in tax that could otherwise go toward funding the schools, hospitals and social safety net our society needs.
The Greens will introduce a 6% tax on the wealth of billionaires, raising $40 billion over 10 years to fund dental into Medicare, a million jobs in manufacturing and renewable energy, and raising Jobseeker to $80 a day.
The Greens will:
- Introduce an annual extra 6% wealth tax on billionaires, raising $40.5 billion over 10 years
- Tax the mega-profits of big corporations earning over $100m annually
- Increase funding to the Australian Taxation Office to have the resources to pursue billionaires' wealth and combat tax evasion
- End government handouts to the billionaires and the big corporations, like the fossil fuel industry