(by Ray Dixon – someone who can add up)
The Coalition’s paid parental leave scheme will be administered through the Family Assistance Office and fully funded through a 1.5 per cent levy on companies earning more than $5 million in taxable income. This will affect only around 3,000 companies – less than one out of every 200 companies in Australia.
Those companies required to pay the levy will have this offset by the Coalition’s previously announced 1.5 per cent company tax cut.
The above is an extract from the Liberal Party’s own website headed “Tony Abbott – The Coalition’s Paid Parental Leave Scheme”.
Does anyone else see the contradiction?
Does anyone else see the falsehood in the claim that the scheme will be “fully funded” by a levy on large companies?
The lie in this scheme is so bloody blatant and obvious that most people seem to have missed it.
It’s in plain sight.
And here it is:
If you charge a company a 1.5% tax levy and then fully “offset” it by reducing their tax rate by 1.5%,it means they’re not contributing to it at all.
NOT. ONE. CENT.
Abbott’s scheme is NOT ‘”fully funded” by big companies. It’s not even partially funded by them.
In effect, the companies will pay NOTHING towards it, as their tax rate will remain exactly the same as it is now – 30%.
It’s business as usual for big companies and a free kick.
Abbott is lying.
The Coalition is lying.
The great bulk of the $5.5 billion annual cost of Abbott’s scheme will be met by removing the school children’s allowance and removing tax breaks to SMALL business.
In other words, it is ordinary Australians who will foot this bill, not big companies.
Abbott and the Coalition are concocting their costings to make it look like the scheme to pay wealthy people $75,000 to have a baby is not going to be a burden on the rest of us, but it’s a lie.
The truth is that Labor’s more modest PPL scheme costs only $1.8 billion per year … and you can’t pluck the extra $3.7 billion Abbott’s scheme will cost per year out of thin air.
It has to come from somewhere. And it will come from cuts to other areas. Cuts to families and small business.
While big business pays effectively nothing … but while their highest paid employees get a $75,000 gift !
And while pensioners go without any increases to their measly $19,000 per year.
It’s another Abbott lie.