Published: September 06, 2018
Parliamentary Budget Office says largest increase in average tax rates will occur in ‘low to middle-income groups’
The Parliamentary Budget Office says the Morrison government’s plan to deliver a budget surplus by 2021-22 is still relying on big increases in personal income taxes.
Despite the government’s recently legislated cuts, the PBO says the average personal income tax rate is still projected to increase from 22.9% to 25.2% over the next decade, and the largest increase in average tax rates will occur in “the low- to middle-income groups”.
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