Two years ago, the government legislated tax cuts for delivery more than five years into the future. The tax cuts were legislated on the expectation of a surplus, not a $95 billion deficit. They were also intended to return bracket creep to the middle – which is best achieved by raising the rate brackets not cutting the rates. This year, there is no bracket creep.
Read more: https://www.afr.com/policy/tax-and-super/this-is-unlikely-to-be-a-budget-for-australia-s-working-mums-20201005-p5621t
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