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We need a Mining Super Profits Tax, not record dividends

Greens Treasury spokesperson, Senator Nick McKim, has responded to the announcement by BHP that it will pay a record dividend by calling for a Mining Super Profits Tax (MSPT).

“Australia needs a Mining Super Profits Tax."

“BHP shareholders are rolling in cash but the Australian public who own the resources are being shortchanged."

“Mining giants are posting obscene profits on the back of commodity booms, but the benefits are going to corporate executives and shareholders rather than to Australians who are struggling with the spiralling cost of living."

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Greens welcome ACTU’s call for Stage Three tax cuts to be repealed

Greens Treasury spokesperson, Senator Nick McKim, has responded to the ACTU’s paper to the Government Jobs Summit saying the pressure is growing on Labor to walk away from the Stage 3 tax cuts.

“The Greens welcome the ACTU’s paper and congratulate them on making the case for serious economic reform.

“Scott Morrison’s Stage 3 tax cuts will overwhelmingly flow to the wealthiest people in the country, with a $9000 tax break for people earning $200,000 but nothing for those on the minimum wage.

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Time to stop tax dodging millionaires and gas giants

Greens Treasury spokesperson, Senator Nick McKim, has responded to the release of the latest taxation statistics by the ATO.

“The fact that 60 people who earned over $1 million managed to pay not a cent in tax clearly demonstrates that Labor should abandon the upcoming Stage 3 tax cuts.”

“Labor should be making high income earners pay their fair share rather than giving them another tax cut.”

“Proceeding with Scott Morrison’s tax cuts for millionaires while so many high income earners are already paying no tax is irresponsible and unfair.”

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Corporations should be bracing for a Super Profits Tax

Greens Treasury spokesperson, Senator Nick McKim, has responded to the Treasurer's Ministerial Statement on the Economy.

“The Treasurer has just told Australians to brace for higher unemployment and further real wage cuts because interest rates are going to go up.

“But the Treasurer said nothing about what big corporations should brace for.

“The share of national income going to corporate profits are at record highs, and the share of national income going to wages are at record lows.

“Corporate profiteering is fuelling inflation, not wages.

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Super profits tax needed to offset rising inflation

Greens Treasury spokesperson, Senator Nick McKim, has responded to the release of today’s inflation figures.

“The government should introduce a corporate super profits tax to help ease cost of living pressures, including by fixing up the Petroleum Resource Rent Tax (PRRT).

“And they should use the additional revenue to provide cost of living support, such as by putting dental into Medicare and making childcare free.”

“COVID disruption and energy price hikes are driving inflation globally.

“But inflation is also being driven by corporate profiteering.

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Amid record corporate super-profits, Greens announce new Tycoon Tax to raise $338 billion for public good

The Greens have today announced they will push for a new 40% corporate super-profits tax on the excess profits made by big corporations, including mining corporations, in the balance of power after the next election.

The Greens’ push for a ‘tycoon tax’ follows the announcement this week of record super-profits across retail and mining sectors, and National Account figures showing the profit share of national income at the highest (30.3%) since records began, eclipsing last year’s new record1.

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Greens announce billionaires tax to fund schools, dental, and jobs for all

The Greens will today announce key election policies, including a ‘billionaires tax’ to help fund genuinely free public schools, dental into Medicare and a job for everyone who wants one. 

With the party considering an election in November of this year still a possibility and a minority parliament the most likely outcome, Mr Bandt will push for a tax on billionaires & corporate super profits as part of dealings with a future shared power government.

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