Tax reforms to reduce debt from Covid-19

Apr 28, 2020

Q. To what extent do you support or oppose the following suggested tax reforms to help reduce any debt Australia may have, as a result of the Covid-19 stimulus packages?

  NET: Support NET: Oppose Strongly support Somewhat support Neither support nor oppose Somewhat oppose Strongly oppose
Prevent companies who are registered in offshore tax havens (such as Switzerland) from accessing Covid-19 government support 64% 9% 43% 20% 20% 5% 4%
Simplify the taxation system to a flat tax rate 43% 18% 16% 27% 27% 10% 8%
Removal of franking credits 32% 16% 15% 17% 27% 10% 16%
Removal of negative gearing 32% 25% 14% 19% 30% 12% 13%
Implement a tax on the value of property or money passed on when someone dies 18% 49% 5% 12% 22% 16% 33%

 

NET: Support   Gender Age Group
Total Male Female 18-34 35-54 55+
Prevent companies who are registered in offshore tax havens (such as Switzerland) from accessing Covid-19 government support 64% 66% 61% 48% 61% 80%
Simplify the taxation system to a flat tax rate 43% 48% 38% 40% 39% 48%
Removal of franking credits 32% 36% 28% 36% 32% 28%
Removal of negative gearing 32% 36% 22% 34% 32% 32%
Implement a tax on the value of property or money passed on when someone dies 18% 23% 13% 27% 17% 10%
Base (n) 1,054 526 528 343 332 379
  • Participants most support preventing companies who are registered in offshore tax havens from accessing Covid-19 government support (64%) and are least supportive of implementing an inheritance tax (18%) to reduce any debt as a result of the Covid-19 stimulus.
  • Those aged over 55 are most likely to oppose removal of franking credits (39%), negative gearing (33%) and inheritance tax (63%), however they are most likely to support preventing companies registered in offshore tax havens from accessing Covid-19 government support, (80%).

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