Peter Costello

Media Releases

Rudds Economic Credibility Cascades

NO.096

Rudds Economic Credibility Cascades

Kevin Rudd today revealed a humiliating ignorance of tax policy.

Mr Rudd was unable to name a single tax rate or a single threshold for Australia’s income tax system:

JOURNALIST:… the Government’s tax plan, the tax policy in the Budget, can you name for me the rates and the thresholds which those rates kick in?

RUDD: Well if you look across the, you mean the ones when they…

JOURNALIST: Both of them, this year, July 1.

RUDD: Well as of July 1 if you went through the four thresholds, I think the high threshold kicks in I think at $175,000, then I think it cascades down the spectrum.  When it comes to each individual tax rate and tax threshold for the future, what I have said when it comes to the future of the tax system is that our plan will be out there on the table for the Australian people to look at before the election. 

For the record, here it is:

TAX SCALES FROM 1 July 2007

Taxable income ($)

Tax rate (%)

0 - 6,000

0

6,001 - 30,000

15

30,001 - 75,000

30

75,001 - 150,000

40

150,001 +

45


It is extraordinary that a man who claims to have a policy on tax does not have the slightest idea of what the system is.

Mr Rudd doesn’t understand the tax system and he doesn’t understand the Australian economy. He should never be put in charge of people’s mortgages, their businesses or their jobs.

CANBERRA
19 September 2007

Renae Stoikos
Treasurer’s Office
02 6277 7340

19 Sep 2007

View more media releases …

Latest News

Paris Diary

Peter Costello Paris Diary

Read more …

PPI - Rising Role of Sovereign Wealth Funds

Peter Costello Rising Role of Sovereign Funds Speech

Read more …

The Hole Truth

Peter Costello in the Daily Telegraph

Read more …

Videos

Video Screenshot

Watch videos …