Answer is $387 Billion in Higher Taxes

In Bill Shorten’s latest attempt to explain the details and cost of his tax policies he’s now passed the buck and told Australians to simply work it out for themselves.

“…in terms of taxation policies, you can do the maths yourself.”

Bill Shorten, Doorstop, 1 May 2019

The facts are clear. A Labor Government would introduce at least $387 billion in higher taxes.

It’s not the first time Mr Shorten has shown he doesn’t know how much his policies will cost Australians.

On Perth radio yesterday Mr Shorten couldn’t tell listeners the cost of Labor’s 45 per cent emissions reduction target.

“I can’t tell you what the cost is going to be.”

Bill Shorten, Nova Radio Perth, 30 April 2019

Coalition Campaign spokesman Senator Simon Birmingham said

“Bill Shorten is showing Australians he doesn’t know the very simple details of his policies and is now passing the buck onto the public to figure out how much they’re going to be hit,” Senator Birmingham said.

“Labor’s tax hit is clear. Treasury has costed Labor’s individual tax measures at $387 billion. It’s time Bill Shorten admitted the fact and released his costings for all to see.

“Bill Shorten’s tax grab will punish hard work, aspiration and enterprise and damage the Australian economy costing jobs.

“We know Labor can’t manage money and Bill Shorten’s disregard for the details shows he can’t be trusted.”

Cost of Labor policies:

Policy Total medium term impact (to 2029-30)

Personal income tax $230 billion

Deficit levy tax* $6.5 billion

Housing tax $31 billion

Retiree tax $57 billion

Family business tax $27 billion

Superannuation taxes $34 billion

Managing tax affairs $2 billion

Total $387 billion

*applies until 2022-23

/Public Release. View in full here.