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Indian Australian community reacts to Prime Minister’s income tax cut proposal

Source: Supplied by Vivek Handa

The Federal government has hinted at income tax cuts for middle-income earners, as well as cutting corporate rates.

The Prime Minister has used a keynote address to float the prospect of income tax cuts for middle earners, while also encouraging businesses to cut company rates.

Addressing the Business Council of Australia, Malcolm Turnbull emphasised the importance of increasing the disposable incomes of Australian workers.

He says he's putting middle-income Australians first.

“Now there is much more to do. You know our plans on corporate tax and in the personal income tax space. I'm actively working with the Treasurer and all my cabinet colleagues to ease the burden on middle-income Australians, while also meeting our commitment to return the budget to surplus.”

Indian Australian father of two Vivek Handa says cost of living is increasing annually, however income of common Australian is not catching up with it. He says if this proposal is successful in parliament it will help thousands of families.

Prime Minister Malcolm Turnbull also called on the business community to demonstrate its support for the government's proposal to cut company tax rates.

Treasurer Scott Morrison has written to hundreds of corporate officials encouraging them to back the plan.

He has told the A-B-C, industry shouldn't be afraid of looking after their own interests.

"This is about the interest of our economy, of which they are a major shareholder in, and the employees they put in a job. And so I'm saying 'don't be intimidated out of expressing your view about the need for this being good for the economy because that might upset the Labor party' who has taken a very opportunistic political position on this because they used to believe these exact tax cuts were good for the economy and have said so themselves."

So far the Turnbull cabinet has legislated a tax cut for businesses with turnovers of up to $50 million, leaving the remainder on a rate of 30 per cent.

But further cuts face a difficult path through the Senate with Labor and the Greens opposed to the full plan.

Labor's assistant treasury spokesman Andrew Leigh has told the ABC, the government is only looking out for big business.

"The increase in taxes on average workers was in this year's budget. Malcolm Turnbull is a tax raiser for average Australians. The only people whose taxes he wants to cut are those earning over $180,000 and the biggest businesses."

Prime Minister Turnbull has been condemned by some companies for moves such as the introduction of a levy on the major banks and his intervention in the gas market to address issues of supply and soaring energy costs.

And he's continuing to face criticism over the decision to postpone a sitting of the House of Representatives to December 4.

Mr Turnbull says it's about better time management.

"The Parliament has got two major issues to deal with between now and the end of the year. The first, obviously, is legislating for same-sex marriage. We've had a massive 'yes' vote. 62% voted 'yes', 80% participation rate. The Australian people have given us our directions. And we have to carry them out. The other thing we have to do is make all of the disclosures relevant to citizenship, and then consider them, and then decide who else will be referred to the High Court. If anybody."

However some politicians have suggested the delay could be linked to calls for a royal commission into the banking system.

Speaking to the Seven network, federal opposition leader Bill Shorten said the Prime Minister is making excuses to avoid facing other important issues.

"I think it's a joke that the Prime Minister, who's frightened of his own party room, he's frightened of the parliament, he's frightened of the electorate, is just cancelling parliament for a week...I mean marriage equality's very important and Labor's all up for voting on that in a speedy fashion, but there's plenty of other business which the parliament needs to do and Turnbull's just cancelling parliament because he's having a hard day at the office."

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