Coalition Will Not Support Labor's FBT Hit On Cars

Online, July 22, 2013 (Newswire.com) - COALITION WILL NOT SUPPORT LABOR'S FBT HIT ON CARS

Ricardo Balancy, Candidate for Holt said the Coalition did not support Labor's $1.8 billion hit on the car industry.

"This tax hike will cost thousands of local families an average of $1,400 per year", said Ricardo Balancy.

"It has been estimated that 75 per cent of drivers with salary packaged vehicles earn less than $100,000 - so this is another hit on families.

"The policies of the Rudd-Gillard Government have but enormous pressure on families.

"There's been the carbon tax, the changes to the private health insurance rebate, the increased superannuation taxes, the increased child care costs, the loss of promised family payments and now changes to the arrangements for the FBT on cars.

"If you are a sales rep with a company car, a nurse or a teacher with a salary-packaged vehicle then this decision is bad news for you and your family.

Ricardo Balancy said he promised that if elected, a Coalition government will not proceed with these changes.

"Once again, this is another Kevin Rudd rush-job.

"This is a rushed decision that won't just hit families, it will also damage the economy, particularly those in the car industry.

"It is estimated that 35 per cent of all salary packaged vehicles are made by local manufacturers Toyota, Ford and Holden.

"Mr Rudd is all talk and no action, but when he finally does act he ends up destroying people's jobs."

Ricardo Balancy said the changes also meant more red tape for small businesses and an impact on small businesses.

"Small business is carrying much of the burden of 21,000 new regulations as well as the carbon tax and this decision has come at the worst possible time."

Ricardo Balancy said this is another decision by a government that does not understand the pressures on families, does not understand the pressures on small businesses and that is making it up as they go along.