Government considering bringing tax cuts forward as part of coronavirus economic response
4 years, 6 months ago

Government considering bringing tax cuts forward as part of coronavirus economic response

ABC  

The Federal Government is considering bringing forward planned income tax cuts, after Treasurer Josh Frydenberg's acknowledgement that plunging most Victorians back into lockdown will cost the economy billions of dollars. Key points: The Treasurer estimates Melbourne's lockdowns could cost the economy $1 billion a week The Treasurer estimates Melbourne's lockdowns could cost the economy $1 billion a week Income tax cuts may be brought forward as part of the Government's response to COVID-19 Income tax cuts may be brought forward as part of the Government's response to COVID-19 Further income support past the end of September has also been foreshadowed Greater Melbourne and Mitchell Shire will go into lockdown for six weeks, to deal with a surge in coronavirus cases in the state. "There were three stages to those legislated income tax cuts," he said. Income Tax cut from 2018-19 Tax cut from 2022-23 Tax cut from 2024-25 $30,000 $255 per year $255 per year $255 per year $60,000 $1,080 per year $1,080 per year $1,455 per year $90,000 $1,215 per year $1,215 per year $2,340 per year $120,000 $315 per year $2,565 per year $4,440 per year $150,000 $135 per year $2,565 per year $6,540 per year $180,000 $135 per year $2,565 per year $8,640 per year The Government has faced calls from some economists to bring the tax cuts forward, even in the early stages of the coronavirus pandemic.

Government Tax Income Cost Billion Cut Melbourne Victoria Stage Forward Cuts Tax Cuts Treasurer Jobkeeper Frydenberg Mr Frydenberg Further Income Support  bringing  treasurer  support  cuts  cost  cut  tax  response  billion  economic  coronavirus  forward  stage  considering  income

History of this topic

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises
6 months, 2 weeks ago

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises

Daily Mail  

Jeremy Hunt has confirmed five major tax cuts will be included in a Conservative post-election budget, and has challenged his Labour counterpart to rule out any rises in her first budget. The Chancellor said National Insurance would be slashed for the employed and the self-employed, income tax would be cut for pensioners and the increased stamp duty threshold would be …

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears
6 months, 4 weeks ago

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears

Associated Press  

LONDON — Prime Minister Rishi Sunak on Tuesday implored British voters, and his own party, to throw him a lifeline in the U.K.'s election, pledging to cut taxes and reduce immigration if his Conservative Party is reelected on July 4. With the Conservatives trailing the left-of-center Labour Party in opinion polls, Sunak acknowledged that “people are frustrated with our party …

Coalition to wave through stage 3 tax cut changes
11 months ago

Coalition to wave through stage 3 tax cut changes

ABC  

In short: The government's tax cuts will pass parliament with the support of the Coalition The government's tax cuts will pass parliament with the support of the Coalition The federal opposition will attempt to amend the bill but will not stand in the way if that fails. The Coalition has agreed at a partyroom meeting to wave through the federal …

Labor's been putting the hard-sell on their Stage 3 tax cut changes. We'll soon know if it's worked
11 months, 1 week ago

Labor's been putting the hard-sell on their Stage 3 tax cut changes. We'll soon know if it's worked

ABC  

In the week since the prime minister rolled the dice with his Stage 3 tax gamble, he's been on the sort of media blitz usually reserved for selling a budget or winning an election. Jim Chalmers has been out doing the work to make sure Labor's message on changes to Stage 3 tax cuts gets through. Labor is taking a …

Greens cite PBO analysis showing reshaped stage 3 tax cuts still favour highest earners
11 months, 1 week ago

Greens cite PBO analysis showing reshaped stage 3 tax cuts still favour highest earners

ABC  

In short: Analysis from the independent Parliamentary Budget Office shows the lowest 40 per cent of income earners will receive just 9 per cent of the benefits from the government's tax cuts. Analysis from the independent Parliamentary Budget Office shows the lowest 40 per cent of income earners will receive just 9 per cent of the benefits from the government's …

Australia PM to modify proposed tax cuts, stoking fears of inflation
11 months, 2 weeks ago

Australia PM to modify proposed tax cuts, stoking fears of inflation

The Hindu  

Australia Prime Minister Anthony Albanese said on Wednesday, January 25, 2024, that he would consult lawmakers to modify proposed tax cuts for higher earners, potentially breaking an election pledge in a decision some economists worry could stoke inflation. Shane Oliver, chief economist at AMP, said the proposed changes benefit low — and middle-income earners, who tend to spend rather than …

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise
11 months, 2 weeks ago

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise

Daily Mail  

ABC News Breakfast host Lisa Millar has grilled Treasurer Jim Chalmers over Anthony Albanese's broken election promise on tax cuts - hammering him with the PM's own claim that his 'word is his bond'. Mr Albanese will use a National Press Club address today to outline his case for overhauling the Stage Three tax cuts, which he had repeatedly insisted …

Government to overhaul stage 3 tax cuts, Jim Chalmers says changes will benefit 'many'
11 months, 2 weeks ago

Government to overhaul stage 3 tax cuts, Jim Chalmers says changes will benefit 'many'

ABC  

The government, in an election promise backflip, will overhaul stage 3 tax cuts, leaving most Australians with extra cash in their pocket when the measures take effect in July. Treasurer Jim Chalmers told 7.30 the government had changed its view on the cuts because it had found "a better way to provide more cost of living relief to more people". …

Anthony Albanese is smashed with brutal questions about changing the Stage Three tax cuts - after he promised he wouldn't because his 'word is his bond'
11 months, 2 weeks ago

Anthony Albanese is smashed with brutal questions about changing the Stage Three tax cuts - after he promised he wouldn't because his 'word is his bond'

Daily Mail  

Anthony Albanese has denied claims he's gone back on pre-election promises by scrapping the planned Stage Three cuts despite his vow that 'my word is my bond'. Anthony Albanese has denied claims he's gone back on pre-election promises by scrapping the planned Stage Three cuts despite his vow that 'my word is my bond' Prime Minister Anthony Albanese had previously …

First Stage Three tax cuts... then Stage Four and Five? Shock theory about Anthony Albanese's tax plan as PM gives MPs dramatic five-word directive
11 months, 2 weeks ago

First Stage Three tax cuts... then Stage Four and Five? Shock theory about Anthony Albanese's tax plan as PM gives MPs dramatic five-word directive

Daily Mail  

Prime Minister Anthony Albanese has reportedly instructed Labor MPs to address questions about the Stage Three tax cuts by saying 'we haven't changed our position'. Prime Minister Anthony Albanese has reportedly given Labor MPs a five-word phrase to use about the Stage Three tax cuts, as a high-profile economist floats a radical plan that would cut everyone's taxes Stephen Koukoulas, …

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you
11 months, 2 weeks ago

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you

Daily Mail  

Prime Minister Anthony Albanese is reportedly considering a significant overhaul of the promised Stage Three tax cuts, a radio host has claimed. Prime Minister Anthony Albanese is reportedly planning to overhaul the promised Stage Three tax cuts, a radio host has claimed Under the new plans, lower income earners would instead reportedly receive more relief in an attempt to alleviate …

Hunt’s tax cuts based on ‘implausible’ public spending squeeze – think tanks
1 year, 1 month ago

Hunt’s tax cuts based on ‘implausible’ public spending squeeze – think tanks

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt’s tax giveaway is based on “implausible” plans to …

Japan’s Prime Minister Kishida plans an income tax cut for households and corporate tax breaks
1 year, 2 months ago

Japan’s Prime Minister Kishida plans an income tax cut for households and corporate tax breaks

Associated Press  

TOKYO — Japan’s Prime Minister Fumio Kishida said Monday he is preparing to take bold economic measures, including an income tax cut for households hit by inflation and tax breaks for companies to promote investment, in what’s seen as a move to lift his dwindling public support. “I’m determined to take unprecedentedly bold measures,” Kishida said, pledging an intensive effort …

Treasurer Jim Chalmers under pressure to change stage three tax cuts that would millions of Aussies
1 year, 4 months ago

Treasurer Jim Chalmers under pressure to change stage three tax cuts that would millions of Aussies

Daily Mail  

Treasurer Jim Chalmers is adamant the stage three tax cuts will go ahead despite a call from an influential trade union for them to be radically changed. 'The government's position on the stage three tax cuts hasn't changed but we welcome and embrace people having the opportunity to raise these sorts of issues at our national conference,' he said on …

No ‘headroom’ to talk tax cuts, Treasury minister tells Tory MPs
1 year, 6 months ago

No ‘headroom’ to talk tax cuts, Treasury minister tells Tory MPs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tory MPs clamouring for tax …

Promise check: Maintain the Coalition's legislated tax cuts
1 year, 7 months ago

Promise check: Maintain the Coalition's legislated tax cuts

ABC  

This promise was considered broken on Februrary 27, 2024. See why After months of deliberation, Labor announced in July 2021 that it would maintain the Coalition's legislated personal income tax cuts if elected. At a May 2021 National Press Club address, then shadow treasurer Jim Chalmers said: "Everyone on incomes below $88,000 will be worse off under the Prime Minister's …

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much
1 year, 8 months ago

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much

ABC  

No-one likes paying tax. He argues successive governments have relied too much on "bracket creep", which is basically average Australian wages climbing and pushing more and more people into higher tax brackets, and increasing revenue. The Grattan Institute's Kate Griffiths is among those suggesting changes to the "petroleum resources rent tax", arguing a simple tweak to how gas is priced …

Cabinet minister Ed Husic says Stage Three tax cuts were an election promise that Labor will keep
1 year, 8 months ago

Cabinet minister Ed Husic says Stage Three tax cuts were an election promise that Labor will keep

Daily Mail  

The controversial Stage Three tax cuts - mainly benefiting the wealthy as millions get relief - are here to stay because they were an election promise, a Labor cabinet minister insists. Scroll down for audio A cabinet minister in Anthony Albanese 's Labor government is adamant the Stage Three tax cuts for the wealthy are here to stay because they …

Tax cuts for businesses will be prioritised when possible, says Chancellor
1 year, 11 months ago

Tax cuts for businesses will be prioritised when possible, says Chancellor

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In a speech in London on Friday, Jeremy Hunt …

Labor's first budget back in government will make income inequality worse, and the stage 3 tax cuts are mainly to blame
2 years, 2 months ago

Labor's first budget back in government will make income inequality worse, and the stage 3 tax cuts are mainly to blame

ABC  

The financial benefits of the Albanese government's major tax and welfare policies will flow overwhelmingly to Australia's richest households, making income inequality worse. The modelling shows the government's policies will see the top 20 per cent of households getting an extra $12 billion a year in disposable income in 2024-25. It considers the distributional impact of three major measures in …

Forecast cost for stage 3 tax cuts rises by $11 billion
2 years, 2 months ago

Forecast cost for stage 3 tax cuts rises by $11 billion

ABC  

Treasurer Jim Chalmers says the forecast cost of the stage 3 tax cuts has risen and will now cost the nation around $254 billion over 10 years. Key points: The stage 3 tax cuts were supposed to cost around $243 billion Treasurer Jim Chalmers says the tax cuts will not come into effect for a few years and the budget …

Treasurer Jim Chalmers confirms Stage Three tax cuts cost balloons to $254 billion
2 years, 2 months ago

Treasurer Jim Chalmers confirms Stage Three tax cuts cost balloons to $254 billion

Daily Mail  

Labor has hinted it could delay or abandon controversial Stage Three tax cuts arguing the cost has ballooned out to $254billion - just days before the Budget. Dr Chalmers, delivering Labor's first Budget since 2013 on Tuesday night, hinted the Stage Three tax cuts could be delayed, but also suggested they were already factored in with other spending plans, for …

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation
2 years, 3 months ago

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation

ABC  

The federal government appears set to maintain income tax cuts that will predominantly benefit high and middle-income earners in this month's budget, despite looming speculation the multi-billion dollar package would need to be pared back amid a worsening economic outlook. Key points: Stage 3 tax cuts were legislated under the Coalition government and are due to come in to effect …

Australia is still debating stage 3 tax cuts, and it's unclear how it's going to end
2 years, 3 months ago

Australia is still debating stage 3 tax cuts, and it's unclear how it's going to end

ABC  

It's been dubbed the "screeching U-turn". Citing Parliamentary Library research, the Greens say Australia's stage 3 tax cuts are far bigger as a percentage of GDP than the short-lived Truss proposal. "Australia's stage 3 tax cuts for the wealthy are seven times bigger than the UK's, which sent their currency plummeting, triggered a bank revolt, and sent the British government …

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now
2 years, 3 months ago

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now

ABC  

The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will Key points: Treasurer Jim Chalmers will hand down the Albanese government's first budget in October He says Australia's downgraded growth would have "consequences for unemployment" He confirms the "Stage 3" income tax cuts legislated by the Morrison government will go ahead as planned …

'More tax cuts to come' in the next year, says Kwasi Kwarteng
2 years, 3 months ago

'More tax cuts to come' in the next year, says Kwasi Kwarteng

The Telegraph  

Defending his decision to impose tax cuts during a cost-of-living crisis amid criticism from Labour and Left-wing commentators, the Chancellor added: “In terms of our approach, there was no way that we were going to get more growth by simply increasing taxes and taking more of people's money. We talked about it and we thought we've got to change tack.” …

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says
2 years, 4 months ago

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says

The Independent  

Liz Truss has described as “fair” tax cuts which could hand nearly £2,000 to high earners, as a former Conservative chancellor warned they would stoke already soaring inflation. Many Tory MPs privately also admit they fear Ms Truss’s plans will exacerbate inflation at a time when experts already predict it could reach as high as 22 per cent. Lord Hammond …

‘Recipe for disaster’: New chancellor Nadhim Zahawi’s plan for tax cuts and balanced budgets doesn’t add up, say experts
2 years, 6 months ago

‘Recipe for disaster’: New chancellor Nadhim Zahawi’s plan for tax cuts and balanced budgets doesn’t add up, say experts

The Independent  

Tax cuts planned by the new chancellor Nadhim Zahawi are a “recipe for disaster” that risk stoking more price rises and pushing inflation even higher while failing to boost the UK’s crumbling economy, experts have warned. “The important thing is to get inflation under control, be fiscally responsible,” Mr Zahawi told Sky News, adding: “The most important thing is to …

Budget 2022: Treasurer Josh Frydenberg gives $420 tax cut, $250 cash - so what's in it for YOU?
2 years, 9 months ago

Budget 2022: Treasurer Josh Frydenberg gives $420 tax cut, $250 cash - so what's in it for YOU?

Daily Mail  

Drivers, jobseekers and middle-income earners are big winners from the 2022 Budget - but state schools, the arts, and high earners have been left in the cold. Winners and losers in the Budget WINNERS Motorists - $300 saving per car over six months with fuel tax cut Universities - extra spending on research commercialisation Jobseekers - training to get into …

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars
2 years, 9 months ago

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars

Daily Mail  

Australian full-time workers will miss out an early income tax cut in the federal Budget later this month - as the government spends more tax funds on cost of living payments to help people cope with soaring prices. Stage one increased the upper threshold for the 32.5 per cent personal income tax bracket from $87,000 to $90,000. Stage two, due …

Federal Budget tax cuts — will they help our coronavirus recovery?
4 years, 3 months ago

Federal Budget tax cuts — will they help our coronavirus recovery?

ABC  

Presented with the challenge of trying to get more cash rolling through the economy, there's talk the Government bring forward its planned tax cuts in today's budget. Planning self vs doing self Professor Baddeley, who is also the Associate Dean of Research at UTS, said while it was well proven that stimulus or tax cuts were readily spent by low …

The Government steered Australia through the COVID-19 crisis, but the Budget shows it wants business to engineer the recovery
4 years, 3 months ago

The Government steered Australia through the COVID-19 crisis, but the Budget shows it wants business to engineer the recovery

ABC  

Now for the tough bit. Having lashed out more than $100 billion on income support through the JobKeeper program and billions more on unemployment benefits, Treasurer Josh Frydenberg on Tuesday night outlined the second stage of the plan. Budget appeals to the Party faithful Budgets are as much a political document as an economic statement, and this one appeals far …

Government braces for massive deficit as tax cuts, spending set to be outlined in coronavirus Budget
4 years, 3 months ago

Government braces for massive deficit as tax cuts, spending set to be outlined in coronavirus Budget

ABC  

The Federal Government is preparing to hand down one of the most consequential budgets in living memory, with tax cuts, infrastructure spending and a record deficit expected to be outlined when Treasurer Josh Frydenberg speaks in Parliament this evening. Key points: Fast-tracked tax cuts are set to put billions in the pockets of Australian workers Fast-tracked tax cuts are set …

Federal Budget will bring forward tax cuts as part of coronavirus response
4 years, 3 months ago

Federal Budget will bring forward tax cuts as part of coronavirus response

ABC  

Millions of Australians will have more money in their pockets within weeks, as the Federal Government plans to bring forward and supercharge tax cuts in Tuesday's Federal Budget. Key points: The Budget will bring forward income tax cuts scheduled for 2022 The Budget will bring forward income tax cuts scheduled for 2022 The plan will cut taxes for anyone earning …

How those on $200,000 could see their $11,640 tax cut brought forward from July 2024 in budget
4 years, 3 months ago

How those on $200,000 could see their $11,640 tax cut brought forward from July 2024 in budget

Daily Mail  

Wealthy Australians earning $200,000 a year are set to have their $11,640 tax cuts fast tracked. Treasurer Josh Frydenberg's first budget in April 2019 unveiled three stages of income tax cuts - with the full package passing the Senate after the election. Treasurer Josh Frydenberg's first budget in April 2019 unveiled three stages of income tax cuts - with the …

Proposal to bring forward income tax cuts in Federal Budget criticised as benefiting high-income earners
4 years, 3 months ago

Proposal to bring forward income tax cuts in Federal Budget criticised as benefiting high-income earners

ABC  

Former Reserve Bank officials and senior bureaucrats are among a group demanding Treasurer Josh Frydenberg look towards more social spending rather than bringing forward legislated income tax cuts. Key points: Josh Frydenberg has floated the idea of bringing forward income tax cuts by two years, as part of his October Budget A former secretary of the Department of Prime Minister …

Australia's coronavirus recession might soon be over, but the economic road back to full recovery will take years
4 years, 4 months ago

Australia's coronavirus recession might soon be over, but the economic road back to full recovery will take years

ABC  

And now for the good news. The long road to jobs recovery The last official recession we endured, back in 1991, appears as a tiny aberration in the economic growth story. But he's also stuck to his guns on the traditional supply-side measures, repeatedly hinting the October 6 budget may bring forward $158 billion in personal income tax cuts. Last …

Corporate tax cut, slated for 2021, may be delayed to help pay for coronavirus
4 years, 4 months ago

Corporate tax cut, slated for 2021, may be delayed to help pay for coronavirus

Dutch News  

The cabinet’s plans to cut corporate taxes from 25% to 21.7% next year maybe in doubt because of the impact of coronavirus on the government finances. Both the AD and Financieele Dagblad say sources have suggested the tax cut may be postponed again to help pay for the crisis. Ministers had last year agreed to delay the tax cut for …

How Trump’s tax cuts and tariffs will make coronavirus recession worse
4 years, 7 months ago

How Trump’s tax cuts and tariffs will make coronavirus recession worse

LA Times  

President Trump holds up a document during an event to sign the tax cut legislation in December 2017. President Trump’s pre-pandemic economic blueprint of massive tax cuts and global trade wars not only failed to deliver the promised spike in growth and domestic investment, it now appears to have left the U.S. more vulnerable to the devastating financial impact of …

Coronavirus tipped to leave $360b budget black hole that tax reform can help fill
4 years, 7 months ago

Coronavirus tipped to leave $360b budget black hole that tax reform can help fill

ABC  

New forecasts predict the coronavirus crisis will punch a $360 billion hole in the Federal Budget but, while most economists argue the Government should not be trying to rush budget repair, many say major tax reform is urgently needed to assist the recovery. Key points: Deloitte Access Economics forecasts unemployment will not get back to 5 per cent until late …

Coronavirus pandemic forces Queensland to find $4 billion to save small and medium businesses
4 years, 9 months ago

Coronavirus pandemic forces Queensland to find $4 billion to save small and medium businesses

ABC  

The Queensland Government will extend tax breaks for small to medium-sized businesses in a move to prevent significant job losses in the coming weeks due to the coronavirus pandemic. Key points: Urgent action is needed to keep people employed, Premier Annastacia Palaszczuk says The plan is to cost about $2.5b, with a further $1.5b initiative to be announced later this …

NSW Government announces $2.3 billion coronavirus stimulus package with extra funding for health services
4 years, 9 months ago

NSW Government announces $2.3 billion coronavirus stimulus package with extra funding for health services

ABC  

The New South Wales Government has announced a $2.3 billion coronavirus stimulus package which includes extra health funding and payroll tax exemptions for businesses. Key points: NSW Health will receive $700 million to help double capacity of intensive care units statewide The government allocated $1.6 billion towards economic stimulus to help keep people in jobs throughout the crisis Public schools …

Consumers and businesses are on strike and that's dragging the economy down
5 years, 1 month ago

Consumers and businesses are on strike and that's dragging the economy down

ABC  

The private sector is on strike. "Because of the sharp increase in the saving rate, none of the aggregate tax savings showed up in new consumer spending," Jim Stanford, director of the Australia Institute's Centre for Future Work, said. "Consumer spending is likely to remain constrained while wages growth is soft at just over 2 per cent, household debt is …

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced
5 years, 6 months ago

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced

ABC  

Imagine you're offered a great new job. The first is transparency: while budget watchers know that the Government's role in the economy and society will become smaller after the tax cuts take effect, it wasn't a key election issue. It finds, by the end of next decade, two-thirds of the second part of the stage-three tax cuts will go to …

Scott Morrison's key election 2019 tax cut promise faces delay
5 years, 7 months ago

Scott Morrison's key election 2019 tax cut promise faces delay

ABC  

Tax cuts of up to $1,080 per person could be delayed, with Federal Parliament unlikely to return before June 30. Key points: The tax cuts were a central feature of the Coalition's election campaign The plan would give a dual income household an extra $2,160 a year The delay is due to the electoral process not allowing time for parliament …

Budget 2019 sees Josh Frydenberg pledge billions for tax cuts, infrastructure, but no instant surplus
5 years, 9 months ago

Budget 2019 sees Josh Frydenberg pledge billions for tax cuts, infrastructure, but no instant surplus

ABC  

The Coalition will have to win re-election if it is to deliver its long-touted surplus, which the Budget tips to be $7.1 billion next financial year. Key points: The Budget forecasts a $4.2 billion deficit this year, before a $7.1 billion surplus in 2019-20 Low- and middle-income earners are set to benefit from bringing forward personal tax cuts Billions have …

Business tax policies of the major parties explained
5 years, 9 months ago

Business tax policies of the major parties explained

ABC  

ABC News examines the main tax changes for businesses that the major political parties are proposing, and the estimated dollar impact on the federal budget. Increase the unincorporated small business tax discount The Government will also bring forward, from July 1, 2026 to July 1, 2021, the 16 per cent small business income tax offset for unincorporated small businesses with …

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