no it doesn’t. Drawing out the middle bracket between 45-250k would mean the majority of Australians would pay a maximum of 30% on earnings over $19k.
If you’re asking what my actual position is, it was similar to posted above. Flat tax bracket of 25% on income tax and raise GST to 20%. Lower thresholds for claiming expenses against PAYG income.
I’m self employed with companies/Trusts/smsf. The income tax brackets have little direct effect on me other than distribution from the main family trust. But people aren’t being rewarded for working hard under the current system. Something needs to change
