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Australia records biggest income decline in the developed world, page-49

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Hingdog

23,679 Posts.

1498

10/11/23

09:48

Post #: 70824991
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Originally posted by blueballs ↑

We are getting rid of tax bracket i think with stage 3 tax cuts...but the cuts will mainly benefit those who already are earning the most...yes i will benefit from stage 3 tax cuts.

Do i think its good for society, not really, is it good for me personally, yes.

Id rather a fairer society than me getting richer

"Stage 3 tax cuts will see all taxpayers see a reduction in their tax rates. Those earning between $45,001 and $120,000 will see a reduction of 2.5 points in their income tax rate, while on the other end of the scale, high income earners will benefit the most with a difference of up to 15 points."

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The upper tax levels haven't been adjusted since 2007 or thereabouts, so higher income earners are paying a LOT more now than they were thanks to bracket creep. It's way past time that was fixed
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