Economy – Taxation Family and Personal Taxes

Family and Personal Taxes

The Christian Democratic Party want to show real and effective support for the family unit by supporting the family with a parenting allowance to enable one parent to remain at home as the caregiver to any childern in the family.

Policy:

  • CDP supports a cut in the top tax rate to in order to restore work incentives. As a starting point for determining the top tax rate the CDP believes that the long term aim should be a tax and benefits system where no one faces effective tax rates higher than about 30%.
  • CDP supports a return to the indexation of tax brackets to stop governments’ profiting from ‘bracket creep’.
  • CDP will introduce income splitting for household members related by blood or marriage.
  • CDP supports deductibility on interest accrued on owner occupied housing.
  • CDP believes that this tax deduction for owner occupied housing should be capped to ensure that the benefit remains with the low or medium income earner.
  • CDP continues to support retention of capital gain tax exemption on all owner-occupied housing.
  • CDP supports the payment of a home maker allowance for families with young children to prevent both parents having to join the workforce and leaving the care of children to third party carers in their absence.
  • CDP supports an enquiry into saving-exempt income tax schemes – to encourage savings.
  • CDP supports low to zero tax on contributions household needs and costs.
  • The Christian Democratic Party opposes any plans to broaden the GST to cover the items which are currently exempt, such as fresh food, is proof that the government has absolutely no concern nor consideration to the long-term health effects of such radical measures.

Tel: (02) 9633 3255 or 1300 667 975    Fax: (02) 9687 5848    ABN 57 658 075 121
Email: headoffice@cdp.org.au    Website: www.cdp.org.au
PO Box 8456, PARRAMATTA WESTFIELD NSW 2150