From an extensive series of interviews in the AFR
“In an earlier interview with The Australian Financial Review to mark his 80th birthday, Mr Keating said a top marginal rate higher than 39 per cent was “confiscatory” and he backed indexation of the personal tax scales to inflation or wage rises.”
Australia’s maximum 47 per cent rate is 8 percentage points higher than New Zealand (39 per cent), about 5 percentage points above the US (a figure which includes an estimated average state income tax) and 2 percentage points higher than the UK.
The income threshold at which the top tax rate is imposed is less generous here than Canada ($278,000), the UK ($240,000) and US ($880,000) in currency-adjusted, Australian-dollar terms.
And on Sky
“In an earlier interview with The Australian Financial Review to mark his 80th birthday, Mr Keating said a top marginal rate higher than 39 per cent was “confiscatory” and he backed indexation of the personal tax scales to inflation or wage rises.”
Australia’s maximum 47 per cent rate is 8 percentage points higher than New Zealand (39 per cent), about 5 percentage points above the US (a figure which includes an estimated average state income tax) and 2 percentage points higher than the UK.
The income threshold at which the top tax rate is imposed is less generous here than Canada ($278,000), the UK ($240,000) and US ($880,000) in currency-adjusted, Australian-dollar terms.
And on Sky
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