Young Australians win from tax cuts as both parties target their votes

Younger Australians have gained $11 billion from personal tax cuts over the past three years, netting some of the biggest benefits across all age groups, according to federal data that escalates a political fight for support from younger voters at the coming election.

Treasurer Josh Frydenberg said the tax figures proved that younger Australians had benefited the most from the tax changes the Coalition took to the last election. Mr Frydenberg said young apprentices and students under the age of 25 and working part-time were better off by $2430 on average because of tax cuts.But with Omicron infections sweeping through younger age groups, Labor is accusing the government of economic failure due to the shortage of rapid antigen tests and the harm this is causing to households and the disruption to supply chains.

While the impact of the summer outbreak will not be known until January jobs figures are released next month, the government is citing this and other data, such as relatively strong consumer spending, to insist“Unemployment, underemployment and youth unemployment are all lower today than when Labor left office,” Mr Frydenberg told“Australians can’t afford to give Labor the chance to increase taxes, drive the economy backwards and increase unemployment.

Older age groups received smaller amounts in total, with $6.6 billion going to those aged from 45 to 54 and $4.8 billion going to those aged from 55 to 64. A Grattan analysis of household wealth found that people aged from 65 to 74 had their net worth rise from $1.1 million in 2010 to $1.5 million in 2018, with continued growth in the pandemic so far.

Pork barrelling at its best. Typical LNP government. Vote them out.

auspol Firstly you wil have to believe Josh as he has a woeful track record of being correct (Back in the black mugs ummm). For young Australians tax cuts have disappeared with higher hecs dept, massive house prices, weaker economic outlook etc. The jury is still out

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