27th Feb 2024, 6:55 PM – Senate Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024, Treasury Laws Amendment (Cost of Living — Medicare Levy) Bill 2024 - Second Reading - Redesign tax cuts

The majority voted against an amendment to the usual second reading motion, which is "that the bill be read a second time" (parliamentary jargon for agreeing with the main idea of the bill). The amendment was introduced by Tasmanian Senator Nick McKim (Greens).

Amendment text

At the end of the motion, add ", but the Senate:

(a) notes that these revised tax cuts will still make economic inequality in Australia worse by:

(i) giving politicians and CEOs on incomes of more than $200,000 three times the value of tax cuts compared to the average worker,

(ii) only providing the poorest 20 per cent of society with 0.4 per cent of the share of tax cuts next financial year, compared to the wealthiest 20 per cent of society who will enjoy 50 per cent of the total value of the tax cuts,

(iii) exacerbating the gender pay gap, with 42 per cent of the tax cuts going to women and 58 per cent to men, and

(iv) starving the budget by a jaw-dropping $318 billion over the decade, removing revenue that could support people who rely on aged care services, disability support, income support and families who depend on the public education and health systems; and

(b) calls on the Government to redesign the tax cuts to not give the wealthiest in society $4,529 a year and instead redirect this largesse to expanding public services like more mental health and dental into Medicare and financial support for those earning below the tax-free threshold in this cost of living crisis".