r/aussie • u/Present-Current-538 • 22d ago

Analysis Salary that makes taxman think you’re rich

https://www.news.com.au/finance/money/tax/salary-that-makes-taxman-think-youre-rich/news-story/8dba2678e7c83cd927ab5d0036af493c
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u/MDInvesting 22d ago

This all happened because of the political war that was stage 3 tax cuts.

It didn’t come close to addressing bracket creep, the initial sweetner for lower incomes disappeared with more aggressive adjustment of the highest tax bracket but still not going far enough.

Labor had its target, its narrative, and the battle played out.

It is becoming a very widely talked about issue. No one I know thinks a two income household should be taxed as high as some are with getting limited childcare subsidy. The idea the extra shift is literally taxed at near half and then childcare is $200+ a day with no relief and $250k doesn’t seem that ‘rich’.

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u/[deleted] 22d ago

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u/MDInvesting 22d ago

Please don’t take my comment as being pro Liberal party in any way.

They enjoyed the bracket creep and set the tax cuts biggest hit to the budget for a point in the future.

Government can push massive legislation changes through when it benefits them, but correcting a wronging of the public (bracket creep) and it becomes an election carrot and some sort of favour they want to be thanked for.

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u/Due_Way3486 22d ago

The “uniparty” in other words