How HAS THE PANDEMIC BEEN FOR YOU? DID YOU buy a new jet? ✈️ 
DID YOUR BUSINESS MAKE RECORD PROFITS? 
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Or was it more homeschooling, zoom meetings, doom scrolling, cancelled plans, and watching your savings dwindle?

Well while your last 18 months was tough, billionaires in Australia did better than billionaires anywhere else in the world.

We’re putting Gerry, Gina, Twiggy and Clive on notice. People run this country, not billionaires and big corporations.

This is Kerry Stokes, the 10th richest person in Australia. – PERSONAL WEALTH $6.3 BILLION – AMOUNT HIS COMPANY CLAIMED IN JOBKEEPER: $47M – HALF YEAR PROFIT RECORDED: $116M↑ – CUT TO STAFF'S PAY: 20% – PERSONAL JETS PURCHASED: 1
The billionaires have made out like bandits

During the pandemic, billionaire Kerry Stokes made over $570 million. His companies took millions in corporate welfare like JobKeeper, and cut workers’ wages. Meanwhile, Stokes bought a new jet.

At the same time millions of people lost their jobs. More women lost jobs than men, and did more unpaid work. A third of young people went jobless. 

Before the pandemic, billionaires and big corporations had too much power. Now, this special treatment is out of control. 

To turn around this growing inequality, and the climate crisis, we have to fight for our future. 

The billionaires made how much?!?!

Australia’s billionaires are doing very well out of the pandemic, increasing their total wealth by 34%.

  • The ten wealthiest billionaires in Australia increased their wealth during the COVID pandemic by $68.4 Billion.
  • Gina Rinehart's personal wealth more than doubled during the pandemic from $16BN to $36BN. 
  • The current total wealth of Australia’s billionaires is $417 billion, an increase of $90 billion.
  • The number of billionaires is growing and currently stands at 122.
  • Australia’s billionaires use complex schemes to avoid paying tax, while donating millions to the Liberal and Labor Party.  

Corporations got welfare, while women
and young people lost their jobs

During the pandemic, the government paid over a billion dollars in JobKeeper to the biggest, and most profitable companies. These companies paid over $24.7M in bonuses to their executives. 

1 in 3 big corporations paid no tax. When billionaires and big corporations don’t pay enough tax, basic services like health and education suffer.

Women and young people were already behind before the pandemic, but over the last 18 months, these trends accelerated. Women were more likely to lose their job, lose hours, do more unpaid work at home, and were less likely to get government support through JobKeeper.  A third of young people lost their jobs, and a quarter of young people faced mental distress.

The Greens will make billionaires and big corporations pay their fair share.

By making mining billionaires and big corporations pay their fair share, we can build a better life for all of us by having mental health and dental in Medicare, building affordable housing and raising the rate of JobSeeker.

The Greens will:

  • Put in place a new Corporate Super-Profits Tax of 40% on big corporations
  • Introduce an annual extra 6% wealth tax on billionaires
  • Tax the mega-profits of big corporations earning over $100m annually
  • Crackdown on multinational tax avoidance
  • End government handouts to the billionaires and the big corporations, like the fossil fuel industry
How is the 6% billionaire tax applied?

A 6% Billionaire’s Tax would only apply to the net wealth held by Australia’s billionaires. To stop the billionaires shifting assets offshore, the tax would still apply to 90% of their original wealth. This tax on just 122 Australian citizens would raise approximately $40 billion over the medium term to pay for the services and jobs that Australian’s need.

A fair share for Australia

6% of Australia’s billionaires’ wealth is a fair share for Australia, but generally, much less than the growth of biggest billionaires during the pandemic. For example, Australia’s richest person Gina Rinehart’s wealth has increased by 123% to $36.28BN, 6% of her wealth is $2.2BN. Billionaire coal miner Clive Palmer more than doubled his wealth to $9.76BN. Six per cent of his wealth is $586 million.

The Billionaires Tax, the Super-Profits Tax, and ending corporate welfare and handouts, will help fund genuinely free public schools, dental into Medicare, and a job for everyone who wants one.

How does the Corporate Super-Profits Tax work?

The Corporate Super-Profits Tax involves two components - one tax that applies to the mining sector and another that applies to big corporations more broadly - which together raise $338 billion*.

The 40% tax would be applied as follows:

1. For non-mining corporations with over a $100 million turnover, the tax would apply to their super-profits. Both Australian corporations and the share of a multinational corporation’s operations in Australia would be subject to the tax. The corporate super profits tax would apply to net revenue after deducting income tax and after making an allowance for a fair return to shareholders.

2. For mining projects, the tax on corporations will be assessed on a Australian project-by-project basis, based on the original Henry Review’s mining super profits tax.

* The independent Parliamentary Budget Office has calculated the mining component will raise $124 billion over 10 years and the wider component will raise $214 billion over that same period, totalling a $338 billion boost to the fiscal balance.

How will the multinational tax avoidance crackdown work?

The Greens comprehensive plan to tackle multinational tax avoidance identifies key areas to block the ways that corporations avoid Australian company tax:

  • Stop the artificial shifting of debt to Australia to increase tax deductions.
  • Stop tax deductions for royalties paid to other arms of the same company.
  • Establish a public register of beneficial owners to see who really owns what.
  • Publish basic information on the tax paid by companies earning over $50 million.
  • Require the ATO to publish the details of the settlement of tax disputes with companies.

The independent Parliamentary Budget Office has calculated these measures will raise $4.5 billion over the decade. The Greens will also back a global push for a minimum corporate tax rate of 25%.

Greens' plan for Ending Corporate Tax Avoidance (PDF)

ARE YOU READY TO TAKE ON THE BILLIONAIRES AND FIGHT FOR THE FUTURE?

Join our campaign to fight for the future by making the billionaires and big corporations pay their fair share to fund essential services that help everyone


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Before the pandemic, billionaires and big corporations had too much power. Now, this special treatment is out of control.

To turn around this growing inequality, and the climate crisis, we have to fight for our future.

We have a plan to Fight for the Future and we need you to read it and share it with your friends and family if you want to see it become a reality.

Next: Fight for the Future

We can tackle the climate crisis and economic inequality, and create a better life for all.

Read the plan

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