In 2019 the Morrison government introduced a law with three phases of tax cuts, it was passed with the support of the opposition, and Albanese were to the 2022 election pledging to retain the legislated cuts. The three phases were.
2019 An interim tax cut for those on 30k-120k
2020 A final cut for those on incomes up to 120k.
2024 A middle bracket cut that kicks in at 45k-200k. This last one is the dosie, worth up to 9k if you earn 200k+.
Actually they mostly wind back bracket creep, but anyway.
Growing agitation and “analysis” from the left, they hate it. Of course, you have to pay tax to benefit from tax cuts. Will labour keep it? You can tell that most of them want to, but this will be a big, bold letter lie 12 months out from the next election.
Then there is inflation, but apparently tax cuts for the high income earners are only 2/3 as inflationary as tax cuts for plebs. Budget has a structural deficit but was in surplus last year and probably this year because of mineral prices.
https://www.abc.net.au/news/2023-12-16/ ... /103234474
2019 An interim tax cut for those on 30k-120k
2020 A final cut for those on incomes up to 120k.
2024 A middle bracket cut that kicks in at 45k-200k. This last one is the dosie, worth up to 9k if you earn 200k+.
Actually they mostly wind back bracket creep, but anyway.
Growing agitation and “analysis” from the left, they hate it. Of course, you have to pay tax to benefit from tax cuts. Will labour keep it? You can tell that most of them want to, but this will be a big, bold letter lie 12 months out from the next election.
Then there is inflation, but apparently tax cuts for the high income earners are only 2/3 as inflationary as tax cuts for plebs. Budget has a structural deficit but was in surplus last year and probably this year because of mineral prices.
https://www.abc.net.au/news/2023-12-16/ ... /103234474
statistics: Posted by NewGolconda — 12:48 AM - Today — Replies 1 — Views 53