this post was submitted on 22 Jan 2024
35 points (97.3% liked)
Australia
3612 readers
195 users here now
A place to discuss Australia and important Australian issues.
Before you post:
If you're posting anything related to:
- The Environment, post it to Aussie Environment
- Politics, post it to Australian Politics
- World News/Events, post it to World News
- A question to Australians (from outside) post it to Ask an Australian
If you're posting Australian News (not opinion or discussion pieces) post it to Australian News
Rules
This community is run under the rules of aussie.zone. In addition to those rules:
- When posting news articles use the source headline and place your commentary in a separate comment
Banner Photo
Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition
Recommended and Related Communities
Be sure to check out and subscribe to our related communities on aussie.zone:
- Australian News
- World News (from an Australian Perspective)
- Australian Politics
- Aussie Environment
- Ask an Australian
- AusFinance
- Pictures
- AusLegal
- Aussie Frugal Living
- Cars (Australia)
- Coffee
- Chat
- Aussie Zone Meta
- bapcsalesaustralia
- Food Australia
- Aussie Memes
Plus other communities for sport and major cities.
https://aussie.zone/communities
Moderation
Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.
Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
This is the best summary I could come up with:
Prime Minister Anthony Albanese has given the strongest indication yet that the stage 3 tax cuts will be expanded to benefit lower-income earners.
Independent economist Chris Richardson suggested the threshold could increase from $18,200 to $19,500 using the money saved at the top, delivering an across-the-board tax cut of $247 a year.
Acting Greens leader Mehreen Faruqi on Monday wrote to Treasurer Jim Chalmers to repeat calls to ditch the cuts, highlighting new analysis by the independent Parliamentary Budget Office showing three-quarters of the benefit would go to the top fifth of income earners.
Angela Jackson, lead economist at Impact Economics, said the reported alternative would make the cuts "fairer and more equitable and importantly increase incentives to work at the lower end where the most gains are to be had".
"From a labour force participation point of view, lowering the top marginal rate will have minimal impact because those workers are generally already working full time," Dr Jackson said.
"However lifting the tax-free threshold lowers the marginal tax rates of low-income and part-time workers, increasing the rewards from an extra hour of work."
The original article contains 703 words, the summary contains 184 words. Saved 74%. I'm a bot and I'm open source!