Renegade Rennick’s new People First party promises bold income tax cuts

Outspoken former Liberal Party member Senator Gerard Rennick’s new People First Party has launched its first election campaign, promising a bold overhaul of the tax system.

Senator Gerard Rennick has set up his own party after failing to get Liberal Party endorsement and will contest the upcoming federal election on a tax reform platform. Pictures: Contributed

Outspoken former Liberal Party member Senator Gerard Rennick’s new People First Party has launched its first election campaign, promising to raise the tax-free threshold from $18,200 to $40,000 to help low-income earners.

The country’s newest political party kicked off its 2025 election campaign after receiving official registration, revealing its bold plans for reducing income tax.

Senator Rennick’s new People First party was officially registered in December 2024 and has spent the Christmas break organising candidates for seats across the country ahead of the next general election expected before May 17.

Senator Rennick who failed to get Liberal Party endorsement for a senate ticket in 2023, said his new party would run on five key policies including major tax reform.

The party will also champion more flexible childcare support, voluntary superannuation, greater efficiency and accountability in government and government-backed financial services.

Senator Rennick said his plans included lowering income tax by increasing taxes on profits sent offshore as well as slashing the Canberra bureaucracy and subsidies for renewables.

“These measures can fund a lift in the tax-free threshold to $40,000 that would reduce income tax by $3500 per annum,” he said.

“Raising the tax-free threshold to $40,000 will allow low- and middle-income earners to keep more of their income, which would equate to an additional $3500, to cover essential living.

“We are preparing for the election and for the People First Party, the later the better to give us more time to raise awareness of the party.

“If People First can come up with a range of policies to turn Australia around, then why can’t the major parties do the same? What are they afraid of?”

Senator Gerrard Rennick left the Liberal Party and has set up his own People First Party ahead of the upcoming federal election. Picture: contributed.

He also slammed Treasurer Jim Chalmers’ three-day guaranteed subsidy child care reform policy as mere “vote buying”.

“A three-day guaranteed subsidy, which won’t be subjected to means testing, will be costly to taxpayers and doesn’t address the real issue facing parents – which is childcare flexibility,” he said.

“Think about FIFO and shift worker families who pay full price for childcare during hours that don’t suit them.

“Labor’s policy of pushing more institutionalised childcare, and essentially buying votes with it, doesn’t address the real issues faced by families.

“Shift workers and parents deserve flexibility, not more rigid government-run centres.”

People First party, was officially registered with the Australian Electoral Commission on December 5, will run candidates across the country.

Forty of the 76 seats in the Senate will be contested in the upcoming poll, which will pit the sitting Labor government of Prime Minister Anthony Albanese against the Liberal/National Coalition under Leader of the Opposition Peter Dutton, minor parties such as the Greens, and independents.

Originally published as Renegade Rennick’s new People First party promises bold income tax cuts