QUESTIONS WITHOUT NOTICE
Dr MULINO (Fraser—Assistant Treasurer and Minister for Financial Services) (15:16): I thank the member for Newcastle for her question, and I know that, throughout her career, the member for Newcastle has understood and has shown a commitment to the importance of delivering meaningful change for hardworking Australians, helping them keep more of what they earn.
The Albanese Labor government tax agenda is about fairness, reward for work and putting more money into the pockets of hardworking Australians. Our changes to negative gearing and capital gains tax mean that we are tilting the property market in favour of first home buyers. First home buyers no longer have to bid against the whole tax system when they attend an auction.
We are delivering tax cuts for every Australian taxpayer, commencing on 1 July this year. This means that an average Australian worker could be up to $2,116 better off from 2028. As part of this, our $1,000 instant tax deduction will benefit 6.2 million working Australians.
This will make tax time simpler and will save taxpayers time and money. Now compare this with those opposite. The coalition went to the last election pledging to legislate to wind back tax cuts for every Australian taxpayer.
The then leader of the opposition stated, talking about our tax cuts, 'We absolutely would repeal it.' This is one of the few things he's been clear about. And, when it comes to superannuation, they are ideologically opposed to the superannuation system and to keeping it strong. We now have former Liberal treasurer and Liberal leader aspirant Josh Frydenberg floating another ideological obsession: the need to raise the GST.
And that's a plan backed in by the shadow Treasurer in this very chamber. The current leader of the opposition says he's ruled it out, but don't believe it. Increasing the GST is a part of their DNA.
It's the last thing that those in Australia struggling with the cost of living need. This is a measure that would boost inflation and drive down living standards. Do those opposite think that petrol is too cheap?
Raising the GST would slug them with extra costs. Do they think that slapping higher GST on construction costs will help with the need for extra housing? Do they think that restaurants and takeaway food are too cheap?
Adding to the GST will not help. This House should not forget that even the former prime minister thinks that Josh Frydenberg— Opposition members interjecting— Dr MULINO: They understand. See, they're excited about the GST.
Dr MULINO: The one thing that gets them excited is the GST. When it comes to Josh Frydenberg, even the former prime minister Scott Morrison didn't trust him. He appointed himself Treasurer to double-check his work.
We are the ones that are committed to lowering taxes and making it easier for hardworking Australians.