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Tax reform

3 Oct 2011

Q.  For each of the following proposals around tax reform, please indicate whether you strongly support, support, oppose or strongly oppose the suggestion.

Total Support Total Oppose Strongly support Support Oppose Strongly Oppose Don’t know
Decreasing income tax for low income earners 81% 11% 34% 47% 8% 3% 7%
Improving tax breaks for small-medium business 76% 10% 20% 56% 7% 3% 13%
Increasing the mining tax 47% 37% 16% 31% 22% 15% 16%
Abolishing negative gearing on new property purchases 33% 37% 8% 25% 20% 17% 29%
Cutting the company tax rate 32% 41% 6% 26% 29% 12% 28%
Repealing the fringe benefits tax 30% 28% 7% 23% 19% 9% 42%
Increasing the carbon tax 19% 68% 5% 14% 21% 47% 13%
Introducing an inheritance tax 10% 75% 3% 7% 24% 51% 15%
Increasing the goods and services tax (GST) 9% 84% 1% 8% 31% 53% 7%

Decreasing income tax for low income earners has the strongest support from respondents, with 81% either strongly supporting or supporting the suggestion.   Improving tax breaks for small-medium business also attracted a similar amount of endorsement (76% total support).

Increasing the mining tax has a significant amount of support (47% total support).

Whilst the proposed reforms of abolishing negative gearing on new property purchases and cutting the company tax rate attracted a significant amount of support, more respondents are opposed to these measures than in favour of them: with 37% opposed to abolishing negative gearing and 41% opposed to cutting the company tax rate.

Strongest opposition is registered against the proposal to increase the GST, with 84% opposed to the idea and only 9% in favour of it.  Introducing an inheritance tax is similarly unpopular (75% total opposed).

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