MYEFO2016

While the Government continues with corporate handouts and unfair tax breaks, the Greens have a plan to raise revenue and fund essential public services.

On Monday the Federal Government is unveiling the Midyear Economic and Fiscal Outlook – MYEFO.

 What is clear is that this budget update, like the May budget before it, will continue to hand out corporate tax cuts, continue unfair tax concessions for miners and property investors, while failing to take any steps to grow our revenue base so we can ensure  that everyone gets great public education and healthcare, and that we can fund vital nation-building infrastructure.

Australia's economy is in transition, and we have an opportunity to invest in the economy and raise revenue for the things we care about. By reforming unfair tax breaks such as the diesel fuel rebate for miners, superannuation tax concessions, capital gains tax concessions and negative gearing for new properties the Greens will restore government revenue to around 26 per cent of GDP, the same level as under John Howard, within the next four years.

RAISING THE REVENUE

Removing tax-free fuel and other perks for miners

$24 billion

Removing the capital gains tax discount and negative gearing

$14 billion

Cancel Joint Strike Fighter Acquisition

$17 billion

Putting a price on carbon pollution

$16 billion

Limiting debt loading by companies

$2 billion

Stopping the concealment and splitting of income by trusts

$4 billion

Reverse recently passed income tax cuts for highest earners

$4 billion

Read more about the Greens' Budget