Opposition Leader Peter Dutton has kicked the can down the road on personal income tax cuts after the Coalition promised “lower, simpler, fairer” changes to the tax rate.
‘We have to be able to pay for it’: Opposition Leader Peter Dutton walks back on promise to cut taxes at next election
The Albanese government chose not to move forward with plans to eliminate the 37 per cent tax bracket or increase the 45 per cent threshold for those earning over $200,000.The Coalition has walked back on its promise for “lower, simpler, fairer” changes to the tax rate. Picture: NewsWire / Nikki Short
The Albanese government has not announced any changes to tax rates or thresholds ahead of the upcoming election. “We're just going to deal with the reality at the moment. The reality is that people are paying higher rates for their mortgages than they need to,” he said. Labor has battled with high inflation during its term in government with underlying inflation not expected to return to the midpoint of the RBA’s target band until 2026.
Albanese Government Murray Watt Economy Inflation Labor Rba Opposition Bracket Creep Parliamentary Budget Office Peter Dutton Coalition Australian Politics Tax Cuts Tax Reform
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