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The bottom 50% will get support from more direct government grants. Energy rebates, increases in pensions.The next 30-40% will see some sort of improvement in their tax situation. The top 10-15% will see sizable tax cuts but not to the level the previous Government had intended.We'll see how the 80% of the population respond to the full picture of what the Government is doing to address Cost of Living issues.What was the Stage 3 Tax cuts proposingWho can get the tax cuts?Previous years’ tax cuts created a benefit to low-middle income earners whose income is over $37,000. The next set of tax cuts have mostly affected high-income taxpayers earning between $120,001 and $200,000. As the ABC illustrates so well, this is effectively a $189 billion tax cut for people earning more than $120,000, which equals almost 80% of the tax cuts on offer.[URL unfurl="true"]https://www.etax.com.au/stage-3-tax-cuts-explained/[/URL]
The bottom 50% will get support from more direct government grants. Energy rebates, increases in pensions.
The next 30-40% will see some sort of improvement in their tax situation. The top 10-15% will see sizable tax cuts but not to the level the previous Government had intended.
We'll see how the 80% of the population respond to the full picture of what the Government is doing to address Cost of Living issues.
What was the Stage 3 Tax cuts proposing
Previous years’ tax cuts created a benefit to low-middle income earners whose income is over $37,000. The next set of tax cuts have mostly affected high-income taxpayers earning between $120,001 and $200,000. As the ABC illustrates so well, this is effectively a $189 billion tax cut for people earning more than $120,000, which equals almost 80% of the tax cuts on offer.
[URL unfurl="true"]https://www.etax.com.au/stage-3-tax-cuts-explained/[/URL]
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