Thursday, 4 June 2026

Albanese rejects Coalition tax back guarantee, protects $255 billion in higher taxes

“Labor voted 11 times against lower taxes, including our bigger, automatic income tax cuts, but instead circled the wagons to protect the extra $212 billion in automatic inflation tax increases and his $43.1 billion in new taxes, according to his own government’s numbers”, said Shadow Treasurer, Tim Wilson.

Mr Wilson’s comments follow the passage of the Government’s new taxes on family savings, housing, rents, first home deposits and investments through the House of Representatives today.

The Coalition moved three amendments in the House of Representatives:

1. to remove tax hikes that no-one voted for, and the Prime Minister promised over 50 times he wouldn’t implement;
2. to oppose the Bill that sets the rate of “extra income tax” payable; and
3. to call on the Government to implement a Tax Back Guarantee.

“Anthony Albanese’s economic model is fuel inflation, tax the inflation, then spend the inflation in a cycle to silently steal Australian workers’ wages”, Mr Wilson said.

“Whatever Anthony Albanese says won’t change the simple fact that in this Budget the government will take net $212 billion more in income tax”.

“Labor talks about cost of living, but in the Parliament they voted to make Australians pay more”.

“The government was given multiple chances to vote for actual tax cuts, but they voted for $255 billion in stealth income tax rises and the taxes Australians didn’t vote for”.

[ENDS]