Published: September 10, 2018
The government’s income tax policy is designed to benefit those who need tax relief the least
The Parliamentary Budget Office has very clearly shown the government’s sales pitch for the income tax cuts to be false. Had you gone by the marketing you would be believing the government was giving those on median income or “middle Australia” the biggest help. But the PBO has shown that the tax cuts are overwhelmingly targeted towards giving the wealthiest the biggest cut.
The overriding reason given by then prime minister and treasurer Malcolm Turnbull and Scott Morrison for their income tax cut policy was that we needed to help “aspirational” workers and that bracket creep was doing them damage.
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