Keep your babies close. An election is nigh, and politicians all over the country will be looking for cute little people to kiss.
In the next few days, the Prime Minister will call an election for July 2. A normal election campaign goes for 33 days, give or take a week. This year, our festival of democracy is going to go on (and on)…for eight exhausting weeks. Welcome to the winter of your discontent.
It’s going to be a long couple of months, so each Friday I’m going to attempt to cut through the guff and provide you with a cheat sheet of the week’s key political issues. I’m mum to a three month old, and, as such, I have the attention span of a goldfish – so you can be guaranteed that you will only get the really essential bits and pieces from this sleep-deprived election correspondent.
This week the Budget and Opposition’s reply set the themes for the next two months of campaigning from both parties. You can expect to hear ‘jobs and growth’ ad-nauseam from the Coalition and the ALP will be telling you that they are fighting ‘for people’ (to remind you that the Liberal Party are all about ‘Malcolm’s millionaires’ the big banks and corporations).
If you own a small (or not so small business), with a turnover of up to $10 million (lucky you), you will enjoy a company tax cut of 1%. Eventually, the plan is for the definition of small business to extend to those with a turnover of up to 1 billion (i.e. Coles). If you enjoy stabbing yourself with a fork, try watching this interview with the Prime-Minister dodging questions about the long term cost of the company tax cuts. I watched it for 40 seconds, it was excruciating.
If you earn between $80,000 or $87,000 you will be moved into a lower tax bracket, saving you about six bucks a week. Enjoy your milkshake. The Government also announced a crackdown on multinational tax avoidance, or a ‘Google tax’. This aims to stop multinationals (such as Apple and Google) from shifting their profits earned in Australia to offshore tax havens. Generous tax concessions for high income earners’ superannuation contributions have also been tightened.