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Great approach, weak execution Economists decline to give budget top marks
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Morrison to give FOUR MILLION Aussies $1080 lower and middle-income tax cut extension in May
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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.
Analysis for
The Age and
The Sydney Morning Herald shows people earning less than $126,000 a year face a tax hike from next financial year.
Without any change, about 3.4 million people will be $1080 a year worse off while another 7 million will have less take-home pay, according to the analysis by the Bankwest Curtin Economics Research Centre.
Josh Frydenberg hands down the 2020-21 budget which contained a one year extension of the low and middle income tax offset. The offset ends in 2021-22.
analysis
Australia s tax system favours men over women so it s time to make the budget more female-friendly
Posted 2
updated 29
The tax system favours men over women, partly because they are in higher-paying jobs.
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Federal politicians on both sides have delivered tax policy changes, including personal income tax cuts and superannuation tax concessions, that aim to alleviate pressure on working Australians.
These policies are not inherently discriminatory, but some experts have noted they are inadvertently leading to inequality, not only between the rich and poor, but between men and women.
Under our current progressive tax system, the average tax rate, or the total amount of tax paid as a percentage of income, increases as the taxpayer s income increases.
Ten million face hip pocket hit without budget tax cut
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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.
Analysis for
The Age and
The Sydney Morning Herald shows people earning less than $126,000 a year face a tax hike from next financial year.
Without any change, about 3.4 million people will be $1080 a year worse off while another 7 million will have less take-home pay, according to the analysis by the Bankwest Curtin Economics Research Centre.
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