The Morrison government and the opposition will have to promise tens of billions of dollars’ worth of personal income tax cuts to 10 million workers on low and middle incomes — many of them women — or risk slowing Australia’s recovery from the pandemic.shows people earning less than $126,000 a year face a tax hike from next financial year.
The offset, paid as a refund once people complete their tax returns at a maximum rate of $1080 for people who earn between $48,000 and $90,000, costs the budget more than $7 billion a year. A person on $80,000 will this year earn a net income of $63,013. Next year, without a tax cut, this will fall to $61,933 and remain there until 2024-25 when their take-home pay will increase to $62,808.
They said the cumulative increase in income taxes paid by an average woman over the next three years would reach $1506 compared to $1156 for men. They said the issue could be addressed by extending the low-middle income tax offset for the next three years. But that would cost the budget at least $21 billion at a time when the government would be trying to reduce its budget deficits.
swrighteconomy CroweDM Fuck . Get the election going , now
swrighteconomy CroweDM Of course they will. This is the LNP.
swrighteconomy CroweDM
swrighteconomy CroweDM Always hitting those that can least afford it.
swrighteconomy CroweDM So my $1500 a fortnight isn’t enough tax? Good to know.
swrighteconomy CroweDM Great, just great 😡😡
swrighteconomy CroweDM Saving tax cuts for an early 2022 pre-election budget
SwannyQLD swrighteconomy CroweDM
SwannyQLD swrighteconomy CroweDM Another LNP slap in the face to middle Australia or what’s left of it
swrighteconomy CroweDM ~bUt iT wiLL hIt wOmEn hArDeR~
swrighteconomy CroweDM Where was your analysis when the whole plan was originally put forward? Nothing has changed since that time. You lot are just late to the party now that's cool for Costello/9 media to hate on the coalition a little bit. Journalists my arse.
LyndaFrench19 swrighteconomy CroweDM Josh Frydenberg, the man who 'unfriended' Victoria. vicpol springst auspol kooyongvotes
swrighteconomy CroweDM Oh ffs, you're kidding, right?! We're struggling enough as it is! taxtherich itsnotrocketscience
MrSquiggleAu swrighteconomy CroweDM Say goodbye to your government because that is the majority of People
MrSquiggleAu swrighteconomy CroweDM How about taxing those who made billions during pandemic
bsadams25 swrighteconomy CroweDM Typical LNP policy. High end of town untouchable, lower end up for grabs.
swrighteconomy CroweDM The Low/Medium Income Tax Offset was always a temporary measure, and was extended by a year as it was. This kind of naff commentary is why we can never have legitimate tax reform in this country.
MorpheusBeing swrighteconomy CroweDM You feel that warm yellow stream trickling down?
swrighteconomy CroweDM What? Policy that benefits themselves and their mates and hurts average Australians? Shocking.
swrighteconomy CroweDM It's disgusting
swrighteconomy CroweDM Trickle up economics?
swrighteconomy CroweDM Yet lRge corporations still pay no tax. Well done idiots
Bunny45564943 swrighteconomy CroweDM
swrighteconomy CroweDM ausunions unionsaustralia
swrighteconomy CroweDM Govt could put the income to help the country transition, infrastructure, aged care. I don't think the bank would be concerned by any of that...
swrighteconomy CroweDM SenKatyG
swrighteconomy CroweDM SwannyQLD
swrighteconomy CroweDM and best not forget about Australian superannuation.
swrighteconomy CroweDM Frydenberg’s love of trickle down Reaganomics/Thatcherism resurrected.
swrighteconomy CroweDM So are people earning over $126K receiving a tax cut instead?
swrighteconomy CroweDM And yet people in that wage bracket still vote for the LNP over and over and over because 'aspirational'. Dumbasses.
swrighteconomy CroweDM Bad Economic Managers....the myth is busted it’s been the LNP all along😏
swrighteconomy CroweDM Disaster is coming. Outsourcing/insourcing/work&business visa/immigration/skilled visa/state sponsored visa/short&long term visa etc. Highly impossible and competing with world to work.All jobs moved to India/Singapore/Asia. Employers have so many options.
swrighteconomy CroweDM Again with house prices and tax hikes the Australian middle class is disappearing. This is not in any country’s best interest. Morrison has to get the boot. It is constantly one bad decision after another.
swrighteconomy CroweDM The Morrison Government will only ever support their wealthy mates Morrison has no credibility left
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