Treasurer Josh Frydenberg is being urged to bring forward the government's planned personal income tax cuts to deliver a much-needed boost to the post-pandemic economy as the Reserve Bank warns the coronavirus will cast a shadow for years.
Westpac chief economist Bill Evans has urged the Morrison government to bring forward its legislated tax cuts to deliver a boost to the economy.Mr Frydenberg has pushed back the budget to October, with the government already warning it will show a record deficit after a huge shortfall in the current financial year. At the end of April, the budget was showing a deficit of $40 billion.as key government support, including the $70 billion JobKeeper wage subsidy program, is withdrawn.
This second tranche of tax cuts pushes the 19 per cent tax rate threshold to $45,000 from $41,000, with the low-income tax offset increased to $700 from $645. The 32.5 per cent tax rate threshold will jump to $120,000 from $90,000.
Thank you RBA for creating an environment where there’s just so much bloody debt. Will you ever raise rates again? I doubt it. Clown show.
Here are a few gentleman enjoying the show,but you can just watch the clip on twtr.
Oh yeah i see the empty seats.🖓
Heres one i just randomly googled. You know how to use google right? Its ok we do.
A shot of the frount door.wonder where all the lil kid Trump suporters are.oh yeah scared.
Here another one you just have to look on twitter to find the vids.
Hey sydney morning heres a photo of the rally maybe you forgot to actually do your job . it's ok over a million people watched online.
If they don’t cut personal tax rates immediately I fear we will experience a cock and balls shaped economy recovery.
2. I don't want a tax cut. I want the Govt to use that money to start nation building projects that have privatization potential. Wages earned by employees on these projects, will create a 'multiplier effect' to our coffers in turn pay down our debt. Need money to make money
1. It is not a tax cut. It is a long overdue normalisation of tax bracket creep. It is to bring forth the tax bracket to match with inflation. 1/2.
Oooh yay...tax cuts then the inevitable austerity...something to look forward to in a depression.
need a job first
Tax cuts
Because they’ve totally proved helpful every other time they’ve done it. 🙄
CouldntRunATuckshop LNPFail Again
Well that's what a smart treasurer would do along with another super realise for investment scheme and many other things that will no likely ever see the green light .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kevin Rudd, super funds lash 'out of touch' Coalition MPs over call to freeze rateFormer prime minister Kevin Rudd has lashed Coalition MPs who want to delay lifting the compulsory superannuation contribution, saying it is a 'nonsense proposition' that a change to the legislated increase would help the economy. MrKRudd is the unflushable turd! Kevin2027 How does increasing money employers do not have into funds no one is spending. To have employers either dismiss or reduce hours of employees at a time when people need cash in hand right now. ruddthedudd
Source: smh - 🏆 6. / 80 Read more »
Melbourne outbreaks a 'wake-up call'Victoria's health minister Jenny Mikakos said the state has recorded 16 new cases in the last 24 hours – with 12 of them spread through community transmission. Thanks far left protesters , selfish as always , now it’s cost every Victorian .
Source: newscomauHQ - 🏆 9. / 77 Read more »
Unions call for national coronavirus sick leave, as Victoria introduces schemeThe Victorian government has announced a hardship payment for workers without sick leave who are diagnosed with coronavirus or are asked to isolate, and the ACTU wants this expanded for all Australians. Let's try to buy our way out of our corruption and obvious ineptitude at running our country. Labour Party tactics 101, we can bribe our voters to over look anything and the media will get on board. EnemyOfThePeople Good idea but better still would be some form of universal sick leave payment for employees to act as a mitigating defence against pandemics.
Source: SBSNews - 🏆 3. / 89 Read more »
Low rates for years as economy meanders: LoweRecord low interest rates will remain in place for years, RBA governor Philip Lowe has warned, raising fears the pandemic will cast an enduring shadow over the Australian economy | swrighteconomy swrighteconomy Careful - US property and Sharemarkets sky rocketed. We are now in danger of repeating Japan's lost decade. swrighteconomy then our economy would be in prolonged stagnation like the lost decades in Japan 20 years of recession swrighteconomy if cash doesn't earn a good dividend at the bank, then there is no money to spend. No stimulus to the economy. Less tax revenue and less gov. spending on services.
Source: smh - 🏆 6. / 80 Read more »
Send alcohol tax hikes to the deep freeze, say brewers and winemakersHoteliers, brewers, winemakers and other representatives of Australia's powerful alcohol industry are calling for a temporary freeze on automatic tax hikes on booze, saying coronavirus lockdowns have devastated their sector | DarrenGrayRural DarrenGrayRural Tax hikes on alcohol are a terrible idea as it is DarrenGrayRural DarrenGrayRural Whinemakers more like
Source: smh - 🏆 6. / 80 Read more »
'Insulting': Union wants penalty rate cut delayedThe retail union has challenged penalty rate cuts set to hit shop assistants' Sunday wages from mid-next week because workers in the sector will not be receiving a minimum wage boost to help offset the reduction | nickbonyhady aconvict nickbonyhady Take away plastic and the prices can come down. nickbonyhady Not 'the' retail Union. raffwu actually exists for its members, not like the lickspittles in SDAunion nickbonyhady Blah blah. What about casuals who are paid LESS than permanent staff at this HUGE Aussie company!!! How about you fix THAT before worrying about any penalties.......
Source: smh - 🏆 6. / 80 Read more »