Scrap the unfair stage-three tax cuts!
The stage-three tax cuts will increase inequality in Australia. At a time when many people are struggling to keep a roof over their heads, the stage-three tax cuts will hand cash back to those who need it least.
Sign the petitionThe stage-three tax cuts will increase economic and gender inequality in Australia
More than 50% of this unfair tax cut will go to people earning more than $180K per year – the highest 10% of income earners.
So, for example, a politician will get over $9,000 in tax cuts, while an entry-level childcare worker will get nothing. This handout will also benefit men twice as much as women, making it even harder for women to get a fair go.
The stage three tax cuts will cost the community a whopping $313 billion over the next decade. Meanwhile, Australia’s aid and humanitarian budgets for people in extreme poverty and crisis are in a dismal state. Over the past 10 years, billions have been stripped out of our aid budget, while the need for support has grown.
We can build an economy that doesn’t just work for the wealthy few, but benefits everyone equally
Please sign our petition calling on the government to scrap the unfair stage three tax cuts before they start in July 2024. We believe the $313 billion cost of the stage three tax cuts would be far better spent on alleviating poverty at home and abroad, and building a better, fairer economic system that allows all people to live with choice, dignity and equal opportunity.
What are the stage three tax cuts?
The stage three tax cuts were announced by the Morrison Government in 2018. They are due to start in July 2024.
The stage three tax cuts would flatten our current income tax brackets, eliminating the 37% tax rate for those earning between $120,000 and $180,000. These tax bracket changes will deepen inequality. More than 50% of this unfair tax cut will go to the highest 10% of income earners.
In practice, this means if you’re earning over $200,000 a year, the stage three tax cuts will save you $9,075 a year in tax. That’s a big handout for people on high incomes. If you’re earning around $45,000 a year (a few thousand dollars above the current minimum wage), you’ll get no financial benefit from the stage three tax cuts.
Many everyday Australians are currently struggling with the rising cost of housing, gas bills and food – this is not the time to hand more money to high income earners.
How expensive are the stage-three tax cuts?
The stage three tax cuts are incredibly expensive. They will cost the community a whopping $313 billion over the next 10 years. That’s massive. With that money we could raise income support above the poverty line in Australia or increase our annual aid budget by five times.
How can the money be spent better?
This money would be far better spent on services we all need and cherish, like quality public health and education systems, affordable housing, a strong social safety net to alleviate poverty and development aid to our Asia-Pacific neighbours.
What do people think of the stage-three tax cuts?
Opinion polls have revealed that the stage three tax cuts for high income earners are becoming increasingly unpopular in Australia. Now we need the Albanese Government to hear that message loud and clear. Sign our petition to call on the government to scrap the unfair tax cuts!
Why does Oxfam care about the stage-three tax cuts?
Oxfam’s mission is to create a fair and equal future without the inequalities that keep people in poverty.
Today, extreme wealth and poverty are rising simultaneously. While billionaires live lavish and often environmentally destructive lifestyles, hundreds of millions of people go hungry. This is a clear sign that our global economic system is failing humanity.
There are many steps this government can take to create a fairer and more equal community, but the first step is to stop short-changing our community by giving reduced tax rates to billionaires, big corporations and people who really don’t need them.
Our campaigns
Make Tax Fair
Today, more big corporations and billionaires than ever are raking in super profits, while hundreds of millions of people globally go hungry and everyday Australians are struggling with rising costs. It’s time to ensure big corporations and billionaires pay their fair share of tax.
Make corporations pay their fair share
Many big corporations are making super profits, often during times of crisis. Polluting fossil-fuel-based industries receive huge subsidies from the government, all the while using loopholes to pay little or no tax. It’s time they gave back to the community.
Bill the billionaires. Fight inequality.
A wealth tax on Australia’s richest would generate $32 billion annually. This would help balance the scales on inequality and ensure there is money in the budget for essential services, and to eradicate poverty.
