Personal income tax collections also hit a record high of $259.1 billion, a lift of $6.1 billion from what had been tipped in March.
“So in October, I would encourage people not to anticipate a surplus budget even in the out years [to 25-26]. The situation is more difficult than that. I think Australians understand that given the fiscal budget circumstances that we’ve inherited, it will take much more than one budget to turn that around.”The March budget forecast a deficit of $78 billion for 2022-23 and deficits of $56.5 billion, $47.1 billion and $43.1 billion in the years after that.
The 2021-22 budget was also buoyed by non-tax receipts, which include dividends from government entities, that climbed to a record $47.8 billion.
Source: News Formal (newsformal.com)
swrighteconomy rachelclun I don’t trust them
swrighteconomy rachelclun If a surplus cannot be delivered at current record commodity prices and tax revenues, then it will never happen. The Government's obsession with free everything has bankrupted the nation.
swrighteconomy rachelclun As if anyone ever expected a surplus budget from an AustralianLabor government....
swrighteconomy rachelclun He won't be around neither will the bread and butter government 🖕🖕🖕🖕🖕🖕
swrighteconomy rachelclun Budget context is residual Rudd Labor debt and Coalition COVID debt that Labor wanted to extend ?
swrighteconomy rachelclun Won’t deliver a surplus ever
swrighteconomy rachelclun Ha ha, like anyone seriously expects Labor to EVER deliver a surplus 😂😂
swrighteconomy rachelclun Jim is giving Jim a tax cut. That’s all that matters. To Jim .. auspol
swrighteconomy rachelclun Record tax, less service, where is the money?
swrighteconomy rachelclun i dont care about a surplus.
swrighteconomy rachelclun Didn't Labor have a plan?
swrighteconomy rachelclun Well you may as well Fuckin Resign as you will not be needed if your not up to the Roll your employed to do so your income can now be going to our Debt instead of us Paying DEAD WOOD!!!!
swrighteconomy rachelclun Lol try the middle of this century
swrighteconomy rachelclun But scrapping 240 billion in obscene and unaffordable high income tax cuts will help the budget. And allow investment in life changing essential services. With trillion dollar debt, endless budget deficits, cost of living crisis, families are struggling everyday. SkyNewsAust
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Source: abcnews - 🏆 5. / 83 Read more »
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