Lifting the $135,000 tax threshold is one option being considered as the Coalition aims to help aspirational voters.
Already a subscriber?The Coalition will fund its promised tax cuts for “aspirational” voters using a war chest amassed from scrapping a raft of Labor policies, ranging from production tax credits to interest payments on almost $50 billion in off-budget funds, to Fringe Benefits Tax exemptions on electric cars.
At the time, the Coalition promised to keep the tax cuts for those on lower incomes but do what was affordable for aspirational voters.“It’s important for us to remember that we gave the first two stage tax cuts to lower middle income earners. The third one was about tax reform,” he told the ABCs“Thinking about those that are at university today, they’re going to get caught with higher taxes into the future because of bracket creep.“It’s something we’re going to have to tackle at some point.
They have also earmarked the FBT exemption on electric cars and the billions in debt interest payments that will accrue from such funds as the $10 billion Housing Australia Future Fund, the $20 billion Rewiring the Nation Fund, and the $15 billion National Reconstruction Fund.
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