.ScottMorrisonMP has all but confirmed that the government will bring forward tax cuts that will be worth up to $2565-a-year for some Aussies.
Richest to be the best off under planned tax cuts
“Tax is an investment in our society. Those calling for tax cuts today will be calling for service cuts in the future.” Dr Hewson has released a statement to back the Australia Institute’s television ad where he warns tax cuts alone won’t help the nation exit the recession. In June, Mr Hewson conceded that going to an election calling for tax increases was a crazy brave decision.
“There is no doubt that increasing the rate to about 15 per cent, and extending its coverage as broadly as possible, could produce $90 billion to 100 billion a year , with about a third required to compensate the bottom 40 per cent of income earners. This is a lot of financial capacity to start to reform the rest of the tax and transfer system.”
“So we are looking at that issue and the timing of those tax cuts because we want to boost aggregate demand, boost consumption, put more money into people’s pockets and that is one way to do it.”
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