"Nope, madamswer you are getting it wrong not looking at the Gini co-efficient after taxes and transfers. Prior to taxes and transfers it is essentially meaningless."
That is only accurate if Australia's taxation legislation has weakened over time; as has taxation compliance.
I'm no tax expert but I very much doubt that to be the case, judging by the long-standing robustness of debate around taxation in Australia, and the competence of our ATO.
As for tax cuts for higher income earners, I wasn't aware of those (unless you classify the cessation of the Temporary Budget Repair Levy as a tax "cut"... I daresay most reasonable people wouldn't).
Because, according to the ATO website, high-income earners (>$180,000 pa) have been taxed as follows over the past several fiscal years (excl. Medicare Levy in each case):
2010/11: $54,550 plus 45% for each $1 over $180,000
2011/12: $54,550 plus 45% for each $1 over $180,000
2012/13: $54,547 plus 45% for each $1 over $180,000
2013/14: $54,547 plus 45% for each $1 over $180,000
2014/15: $54,547 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2015/16: $54,547 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2016/17: $54,232 plus 45% for each $1 over $180,000 (plus 2% Temporary Budget Repair Levy)
2017/18: $54,232 plus 45% for each $1 over $180,000
2018/19: $54,097 plus 45% for each $1 over $180,000
Someone on $180,000 over that 8-year period would have seen their net income go from $125,450 to $125,900, which equates to a nominal rate of increase of 0.05% pa, or a real rate of increase of around minus 2.8%pa.
As for tax cuts for smaller businesses, I think you'll find small business owners don't fall into the category of the nation's most wealthy citizens. Far from it; most small businesses are family-run, and they do it tough most of the time, so I don't know why you would begrudge them some relief.
..
Expand
