ethought

Media Release: One Nation will reverse Dr Chalmers’ budget experiments One Nation will fix Dr Jim Chalmers’ destructive budget experiments by reversing his capital gains tax and trust changes. One Nation will also protect negative gearing for up to two investment properties and vows to fight any plan by the Treasurer to impose death taxes and taxes on the family home. One Nation leader Senator Pauline Hanson said Australians were paying for a Treasurer who had no idea what he was doing and the Albanese Labor government who just cannot stop spending and driving up inflation. “Dr Jim Chalmers is experimenting on the Australian economy, and everyday Australians are his guinea pigs.” Senator Pauline Hanson said. “He’s playing with your home, your rent, your business and your savings. When his experiments fail, Australians will pay dearly. “He has smashed business confidence, cut off business investment and helped send the property market into free fall. “Already, more than 1,100 households who bought through Labor’s expanded five per cent deposit scheme are now estimated to owe more than their homes are worth. “Labor encouraged them into the market, then pulled the rug out from under them. “They botched the ATO credit card ban and lied about their involvement. They were forced to back down on their widow tax. Now accountants warn Labor’s trust changes could cost Australians billions in unnecessary advice and restructuring. “Labor couldn’t run a corner shop. But they know how to send one broke. “One Nation will restore the 50 per cent capital gains tax discount and scrap Labor’s proposed 30 per cent minimum tax on trusts. “The status quo of allowing unlimited taxpayer concessions for property tycoons was not working for Australians. The Liberal plan to back the broken model protecting property moguls makes no sense. “One Nation would continue to allow Australians to negatively gear up to two investment properties. “Anthony Albanese has pulled the ladder up behind him on young people trying to break into the property market, protecting tax concessions for existing properties. This includes the Prime Minister’s own ocean view clifftop house in Copacabana, the hundreds of properties held by his own cabinet and the thousands of properties held by property tycoons. “The Labor government must answer whether members of cabinet who benefited from grandfathering negative gearing concessions recused themselves from voting on the measures given their conflict of interest. “Australians should be able to work hard, invest and get ahead. For many young Australians, an investment property was one way they could get a foot into the property market. “One Nation will end this disastrous experiment and reverse Chalmers’ destructive budget experiments. “And we will draw a line around the family home and stop any plans for Labor’s death taxes. “It’s not enough that you already work several days a week to pay for Labor’s uncontrolled spending. Because Labor cannot control their own spending, they will keep coming back to shake you down for more. “My warning is that your family home, your super, and what you leave your children will be in the firing line next. “Labor broke its promises on negative gearing and capital gains tax. Why would Australians trust anything they say? “One Nation will never impose a death tax. We will never impose a tax on the family home. “You should not have to spend your life paying for Labor’s spending addiction, then have them send your children the final bill.”