this post was submitted on 28 Jan 2024

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Australian PM hints at cost-of-living relief for low and middle-income earners (www.smh.com.au)

submitted 2 years ago by alphacyberranger@lemmy.world to c/world@lemmy.world

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[–] danl@lemmy.world 7 points 2 years ago

This article’s a week old. The relief has been announced in tax bracket adjustments that roll back the Stage 3 cuts that were essentially going to remove the third bracket (primarily benefiting those earning >$135,000)

ABC story

What are the new stage 3 tax cut brackets?

Here's how the proposed plan looks at a glance:

Earn up to $18,200 – pay no tax

Pay a 16 per cent tax rate on each dollar earned between $18,201-$45,000

Pay a 30 per cent tax rate on each dollar earned between $45,001-$135,000

Pay a 37 per cent tax rate on each dollar earned between $135,001 — $190,000

Pay a 45 per cent tax rate on each dollar earned above $190,000

What were they going to be?

Here's what the previous plan looked like at a glance:

Earn up to $18,200 – pay no tax

Pay a 19 per cent tax rate on each dollar earned between $18,201-$45,000

Pay a 30 per cent tax rate on each dollar earned between $45,001-$200,000

Pay a 45 per cent tax rate on each dollar earned above $200,000

[–] Quoll_Strife@lemmy.world 3 points 2 years ago

If only he'd started this 2 years ago. Probably would've helped the Voice referendum pass as well.

Oh well I have no faith in Labor anyway, it'll probably be some lame once off cash payment that helps nobody long term, rather than something meaningful like looking into why wages aren't growing to match inflation.

[–] Paragone@lemmy.world 0 points 2 years ago (1 children)

Insanity:

Accommodating a no-living-wage legislative-regime, .. and then demolishing tax-funds band-aid-ing the problem, with support for those who can't get a living-wage.

FIX THE RIGHT PROBLEM, DAMMIT!

Politics never will.

Political-motivation prevents that from ever having roots.

Systemic, not political, change, is required.

_ /\ _

[–] Deceptichum@kbin.social 4 points 2 years ago

Honestly no idea what you're even trying to say there mate, it was a lot of words but very little substance.

demolishing tax-funds band-aid-ing the problem

Are you referring to the Stage 3 tax cuts? Because they straight up need to go, they literally only benefit high income earners at the expense of everyone else.

[–] Wanderer@lemm.ee -1 points 2 years ago

If we can find ways to put extra dollars in people’s pockets, particularly those low and middle-income earners who are doing it tough, then we’re prepared to do so.

God I hope its in the from of cash transfer. Just give people money, it's fuckinf easy ans economically sound. In fact more evidence is coming forward that's the best thing to do.

The hosuing is a problem not because of lack of money but because of artificially depressed supply. Buy land and reduction it. LVT. Stop the limit on floor level. So many things can be done, just increase supply. The only thing that happens in Australia is supply is kept low and demand is kept high with immigration, just means the land owners make more money.

Not having Australia Day is just stupid. Come on.