Revelations today that the Coalition’s company tax levy associated with its Paid Parental Leave scheme will not create franking credits, resulting in a hit on mum and dad investors, will be a shock to many Liberals.
The Greens will move to amend the Coalition’s PPL legislation to ensure the levy creates tax credits and investors are fully protected.
“Mums, dads and self-funded retirees shouldn’t have to pay from Mr Abbott’s fiscal shiftiness,” the Greens’ early childhood spokesperson, Senator Sarah Hanson-Young said.
“The PBO costing released this week of the Greens’ scheme is based on a proper franking credits scheme for the 1.5% levy.
“The Greens are committed to improving Labor’s weak Paid Parental Leave scheme that doesn’t even pay women superannuation, but the Coalition needs to be up front with the Australian people.
“It’s time Tony Abbott did what the Greens have done; release full PBO or treasury costings of his Paid Parental Leave scheme so that we can work to get a better scheme up.
“The Greens’ fully PBO costed Paid Parental Leave scheme is fairer, better targeted and more economically responsible. It’s a sensible compromise.”
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