The average tax refund has increased by less than $270 despite the Morrison government’s boost to the low and middle-income tax offset, raising doubts whether the move will do enough to boost the nation’s struggling economy.show that despite suggestions of a surge in refunds to ordinary workers there has been at best a modest boost to post-tax incomes.
But the Tax Office said the average return so far this year was $2699, an increase of just $265, or the equivalent of a family grocery shop, on refunds issued for the same period in 2018-19. A survey by Westpac of consumers last week found fewer than half of respondents expected to spend all or most of their tax refund, with a quarter saying they would save it.
“While tax cuts and rate cuts will help, we expect rising unemployment and peaking wages to mean the economy won’t improve as much as the RBA forecast, or lift the consumer price index to their target midpoint without more stimulus,” he said.
I don't want to hear about how these Clods are destroying us and this country. It's all being done with smoke and mirrors and they are just hoping the Yahoos won't notice until we are searching for lifejackets. Which the Clods can't afford to supply.
MariaMatthews5 '... show that despite suggestions of a surge in refunds to ordinary workers' yeah right. Don't you mean election promises made by the Liberals and megaphoned by you and your paper ...
The Abbott govt cut the low income tax offset to a minimal level, a tiny Morrison boost doesn't take it near where Labor had it.
More spin exposed as BS ☝️
You call that a stimulus?
j4joey About those prime time government ads on TV... Why do tax payers have to be sold the 'tax offset' which they receive as soon as they lodge their tax return? Isn't that a terrible waste of money?
The issue is NO WAGES GROWTH. Plus high levels of debt .
xskinn Is that weekly or annually
xskinn We did ours on MyGov before the cuts were made law, but didn't submit them. When the message came up that the cuts were now law, we re-calculated our returns ....and exactly the same. Nothing extra. It's a load of bullshit.
“My crown I am, but still my griefs are mine. You may my glories and my state depose but not my griefs; still am I king of those.”
So the naysayers Were Correct all along, go figure 🤦🏻♂️ And MSM took everybody along for the LIEd 🤥
slsandpet That's $5 a month! Not enough to buy an ice cream! 🍦
I don’t feel stimulated.
If you’re disappointed or surprised, you’re stupid.
a fraud They promote it as a big tax cut but peanut in reality Only 1 extra coffee a week
Awwww wasnt like Morrison made an effort to highlight he was a liar before the election, nope nada
Is anyone *really* surprised? - Morrison lied to win an election - It’s not enough to stimulate the economy - Any ‘surplus’ will only be a surplus on paper using fudged figures - Frydenberg’s fudged ‘surplus’ won’t hold up - Back to recession & deficit caused by the LNP auspol
I'm shocked! truly shocked!
slsandpet Um, because he’s a liar
But but but $1080 tax refund backdated a year wasn't that their promise 🤔🤔🤔😲😲😲Oh I get it It was all 🐂💩😪😪😪😪
Wow....just wow....
😂😂😂
Due to creep the majority of benefit will disappear for most people in a couple of years. The real agenda was to flatten the tax system leaving 95%+ paying the same flat tax rate because this Gov is fundamentally opposed to progressive taxation. auspol
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