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Bradbury should get a ‘no more Labor tax hikes’ tattoo

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Media Release Senator Mathias Cormann Shadow Assistant Treasurer Shadow Minister for Financial Services and Superannuation

12/0302/MC 2 March 2012

Bradbury should get a ‘No More Labor Tax Hikes’ Tattoo

The new Assistant Treasurer David Bradbury should get a tattoo pledging no more tax increases under Labor.

If he is not prepared to get such a tattoo it would seem he is more committed to the political fortunes of the Prime Minister than helping Australian taxpayers with their cost of living pressures.

As Labor’s fifth Assistant Treasurer in less than five years David Bradbury must rule out a Labor tax grab at the expense of the charity sector.

He must sort out the mess left behind by his predecessors with their stalled and confused proposals to change tax arrangements for the not for profit sector.

He should not use changes in taxation arrangements for this vital sector to embark on yet another Labor Party tax grab.

Any changes must cut red tape and costs to enable charities and not for profit groups to continue the extremely valuable work they do in our community.

He must also resist the temptation to pre-empt the outcome of the review into tax avoidance laws initiated by his predecessor on his last day on the job.

The proposed review of the general anti-avoidance provisions in our tax laws must be open and transparent.

Importantly, the new Minister needs to accept that tax avoidance laws are not broken just because the Australian Tax Office doesn’t always get its way in the Courts.

The government should only go ahead with any changes to the existing tax avoidance laws if the review demonstrates that there is a genuine need to do so.

Any changes must not create more uncertainty yet again or add further compliance costs or deter investment.

I wi sh David Bradbury better luck than his four predecessors in bringing some much needed balance and continuity to this portfolio area.

MEDIA CONTACT: Senator Cormann 0411 874 546