Liberals’ big new farm tax will hurt business, jobs

Tasmanian Labor
  • Liberals farm tax to hurt jobs and investment
  • Hodgman and Gutwein’s new tax will slash producers’ returns in half
  • Government desperate to find ways to pay for its $1.1B in debt
  • Will Hodgman in Question Time today failed to answer fresh questions regarding his Government’s big new farm tax.

    According to the Australia Bureau of Agricultural and Resource Economic and Sciences (ABARES), the average return on assets for farmers over the last three years has been 3 per cent.

    Shadow Minister for Primary Industries Dr Shane Broad said with the Liberals’ new farm tax set at 1.5 percent, investors’ returns will be slashed in half.

    “Under Will Hodgman, Tasmania has the worst jobless rate in the country, so why would he be pushing ahead with a big new tax that will hurt jobs and investment?

    “Will Hodgman is now trying to take half of the annual returns from these farmers and investors and still claims that will have no impact on investment and jobs.

    “The Liberals farm tax is a desperate tax grab after Will Hodgman and the Treasurer have driven the budget into $1.1 billion in debt.”

    Shane Broad MP

    Shadow Minister for Primary Industries, Fisheries and Water

    /Public Release. View in full here.