Economic Justice and Treasury

Our economy should work for people, not just for big corporations and billionaires.

But right now, 1 in 3 big corporations pay no tax and corporations are making record profits at your expense. 

While Labor and the Liberals protect the wealthiest and prioritise corporate profits and their corporate donors, the Greens are working to deliver economic fairness by ensuring the ultra-wealthy and large corporations pay their fair share of tax, tackling price gouging, and using the funding raised to invest in services that support everyday people.

The Greens believe in building a fairer economy that reduces inequality, makes essential goods and services affordable, and empowers small businesses and cooperatives. 

By putting people first, we can create a future where everyone has access to housing, healthcare, education, and a secure income, instead of an economy rigged in favour of the few.

Explore our plan

Big corporations tax

Australia’s biggest corporations are making record profits while workers’ wages have stagnated, and everyday people struggle with the rising cost of essentials like food, housing, and insurance. 

Right now, 1 in 3 big corporations pays no tax.

Unlike Labor and the Liberals, who have allowed corporations to price gouge unchecked, the Greens are working to hold corporations accountable and ensure the economy works for everyone, not just the ultra wealthy.

The Greens' plan:

  • Introduce a 40% excess profits tax on corporations with over $100 million in turnover to curb corporate greed and drive investment in public services and infrastructure.
  • Apply the tax to net revenue after a fair return to shareholders, targeting only excessive profits to reduce inequality.
  • Use this to fund critical services, infrastructure, and productivity-enhancing projects.
Stop the big banks ripping off home buyers

While millions struggle with skyrocketing mortgage repayments, the big banks are raking in billions in profits. The Greens are focused on reining in the banks’ power and ensuring homebuyers and mortgage holders get a fair go.

Our plan will hold big banks accountable and provide relief to mortgage holders and first home buyers, ensuring the housing system works for people, not corporate profits.

The Greens' plan:

  • Lower mortgage costs by legislating a HomeKeeper mortgage product, with a regulatory ceiling at no more than 1% above the cash rate to prevent banks from overcharging.
  • Deliver real savings for homeowners, with a HomeKeeper loan saving the average mortgage holder up to $357 per month or $4,284 annually.
  • Empower regulators by giving the Australian Competition and Consumer Commission (ACCC) and the Australian Prudential Regulation Authority (APRA) the authority to block banks from imposing unnecessary mortgage price increases.
  • Ensure fairness by requiring banks to seek approval from both regulators before charging interest rates above the regulatory ceiling.
  • Support smaller banks with a wholesale funding guarantee, enabling them to compete with major banks by borrowing at equivalent costs.
Stop CEO salary rorts

While workers’ wages stagnate, CEOs of major corporations are pocketing millions in bonuses and salaries.

The Greens are pushing to cap excessive CEO pay and ensure corporations invest in fair wages for their workers.

The Greens' plan:

  • Cap CEO remuneration by removing tax deductions for salaries over 15 times the average weekly earnings.
Increase the big bank levy

Australia’s five biggest banks are some of the most profitable in the world. The companies raked in over $33 billion in the last financial year, while CEOs pocketed over $55 million in salary and bonuses.

The big banks have profited from the cost of living crisis, reaping massive profits from skyrocketing mortgages and rents. 

The Greens' plan:

  • Ensure major banks repay cheap pandemic-era funding by requiring repayment of the Term Funding Facility and bond repayments from their ‘excess reserves’ accounts issued during quantitative easing.
  • Increase the major bank levy rate to 0.08% per quarter, up from 0.015%, to ensure big banks contribute more fairly to Australia’s economy.
Support for co-operatives and small business

Small businesses and cooperatives are the backbone of Australia’s economy, employing millions and fostering vibrant local communities.

While Labor and the Liberals prioritise the profits of big corporations, the Greens are focused on giving small businesses and cooperatives the support they need to thrive in tough economic times.

The Greens' plan:

  • Support small business growth and innovation by establishing a small business incubator to provide 1,000 grants of $250,000 and 10,000 grants of $50,000–$75,000 for startups and cooperatives that enhance local economies and create jobs.
  • Provide certainty for small businesses by extending the $20,000 instant asset write-off and the Small Business Energy Incentive Scheme to 1 July 2026.
Targeting multinational tax avoidance

Everyday people are struggling to pay the rent, or being forced to choose between putting food on the table or paying a doctor’s bill. At the same time, multinational companies aren’t paying their fair share of tax.
The Australian Taxation Office’s Tax Avoidance Taskforce was created in 2016 to target tax avoidance by the most significant, wealthiest taxpayers. It focuses on the most prominent companies to ensure they pay their fair share of tax.

The Greens' plan:

  • Provide ongoing funding so that the Tax Avoidance Taskforce can crack down on multinational tax avoidance.

 

More information on this policy initiative will be released soon.

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