A large majority of Australian taxpayers will benefit from the revised tax package, despite the impact of bracket creep over the next decade. But long term, these tax cuts come at a high price.
Articles on Income tax cuts
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The COVID-19 pandemic has hit the production side of the economy, So how will tax cuts for those on high incomes help?
The Morrison government’s tax changes will benefit high income earners the most and low income earners the least, says the National Centre for Social and Economic Modelling.
More crucial than the fate of the company tax cuts is the government’s long struggle to nail down its NEG, with the crunch coming when Josh Frydenberg meets his COAG counterparts on August 10.
Michelle Grattan speaks with Mark Evans about the week in politics.
The poll was commissioned by the Australia Institute, a progressive think tank.
The income tax cuts in the 2018 federal budget are likely to be modestly regressive, giving high earners a lower share of the overall tax burden. But by 2028 income tax will be higher across the board.
Michael McCormack on Barnaby’s future, latte sippers and other matters
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In this interview Nationals leader and Deputy Prime Minister Michael McCormack pointedly avoids saying Joyce should run again in his New England seat at the election.
Instead, the funds should be spent on services, the Greens say.
It seems that timing tricks are now a thing in Australian politics. Revenues are brought forward and spending pushed back for cosmetic effect.
The three part plan is the centrepiece of Tuesday night’s budget, which also brings forward by a year the forecast return to surplus and the peak of Australia’s net debt.
While the budget will come in for its share of criticism, looked at overall it is designed not to offend an electorate that has already turned off the government.
With the poll due in a year, people will view Tuesday’s budget as coming from a government desperate for approval, presenting a smiling face.
Michelle Grattan speaks with Nicholas Klomp about the week in Australian politics.
Top contributors
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Professorial Fellow, University of Canberra
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Scientia Professor of Economics, UNSW
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Director, POLIS: The ANU Centre for Social Policy Research, Australian National University
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Deputy Program Director, Housing and Economic Security, Grattan Institute
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Program Director, Housing and Economic Security, Grattan Institute
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Professor, Institute for Governance & Policy Analysis, University of Canberra
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Deputy Vice-Chancellor, Academic, University of Canberra
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Senior Research Fellow, NATSEM, University of Canberra
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Professor, NATSEM, University of Canberra
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Associate Professor, POLIS@ANU Centre for Social Policy Research, Australian National University
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Professor, School of Economics, The University of Queensland