Good ol’ Rudd

In true Rudd style, the Labor government has announced changes to the fringe benefit tax rules for new vehicles, of course with no consultation with the industry. It’s yet another tax hike from Labor to cover their inability to manage the budget and is predicted to reduce sales of Australian built cars by 20% according to the Federal Chamber of Automotive Industries. Labor have already decimated vehicle manufacturing in Australia. Ford is closing it’s doors for good whilst Holden announces more layoffs every week. A further 20% reduction in sales will be the final nail in the coffin.

It’s incredible how Labor continue to invent tax hike after tax hike.

And the new taxes keep rolling in with news that Labor are considering increasing the tax on cigarettes, again in an effort to balance the budget. Labor have already increased the tax on cigarettes during their tenure. The price of a pack of cigarettes is already 60% tax and prices are among the highest in the world.

This is not surprising from Labor. They have a history of introducing short sighted taxes that penalize the Australian economy. After only a few years since the biggest economic boom in history, Labor has put the budget in such a poor position that they have been introducing a tax hike every 5 minutes since taking office. The tax hikes include carbon tax, mining tax, alcopops tax, cigarette tax increase, ethanol tax increase, increase in luxury car tax, taxing of overseas workers, flood tax, tax increase on company cars, LPG excise increase, cutting tax free super contributions, restrictions on business losses, changes to employee share scheme, tightening restrictions on medical expenses before you can claim them on tax, abolition of entrepreneurs’ tax offset, phasing out of dependent spouse offset, disallowance of deductions against government assistance payments, removing minors’ eligibility for the low income tax offset on unearned income, deferral of tax breaks for green buildings. Ridiculous!

Australia’s economy is in desperate need for a new government to abolish these short sighted third world taxes. We better hurry up whilst we still have something to save. We are already uncompetitive in international markets and our economy is in decline. Mining investment has been annihilated by Labor and as mining slows we have nothing else to take its place. We need to get the circus out of here!

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