Abbott needs to tax us more, says millionaire developer
THE Abbott government could raise much needed revenue by increasing the top tax rates paid by the richest Australians and hiking the company tax rate to 45 per cent, says wealthy property developer Soheil Abedian.
Mr Abedian, chairman of Sunland, runs the company with his son, Sahba Abedian, and told Fairfax Media that personal tax rates should be zero for those earning under $50,000 and progressively go up - as high as 75 per cent for those earning over $1 million.
He also dismissed the business lobby line that company tax should be reduced from 30 per cent. He said it should, in fact, go up to 45 per cent for big companies, to ensure they pay their fair share of taxes.
"I am one of the rich guys in Queensland; take it [tax] from me," Mr Abedian said, referring to the valuation of the family's wealth on a Queensland rich list of $95 million last year. Sunland, which has previously been caught up in legal controversy and had to pay out millions in legal fees, has moved away from risky Dubai developments to focus on residential development across Australia.
Mr Abedian said an Oxfam study had found that 85 of the richest people on the planet have the same wealth as the poorest 50 per cent (3.5 billion people).