The PBO has likely overestimated future personal income tax revenue.
The parliamentary budget office expects Australians to be paying significantly higher average tax rates in 2020/21, but their assumptions bear no relation to reality.
Social Services Minister Christian Porter in Question Time.
Christian Porter said Australia's welfare system 'was costing over 100% of all income tax raised' under Labor after the GFC, and that it's 'around 80%' under the Coalition. Is that true?
How possible will budget repair be?
Hoping for the best is not a budget management strategy: but Australia can set realistic goals.
Fairness is in the eye of the beholder when it comes to bracket creep.
Short-term, the bracket creep measures help high income earners. But longer-term it evens out.
Economic reality has intruded on rosy budget predictions for years now and the Pre-election Economic and Fiscal Outlook may soon challenge Treasurer Scott Morrison’s forecasts.
Budget repair was put off till later, and the net impact of decisions in the budget was small, but it will be easier to defend in the coming election campaign than some other recent efforts.
Scott Morrison’s budget will determine whether the election campaign starts well or poorly for the government.
“Are you nervous?” journalist Laurie Oakes asked Scott Morrison two days before the treasurer brings down his first budget. Morrison didn’t answer that but he has every reason to be anxious. As he keeps…
Deloitte strongly argues the budget has a revenue problem, not just a spending problem – a proposition consistently rejected by Treasurer Scott Morrison.
The federal budget deficit from now through to 2018-19 is likely to be $129 billion, $21 billion worse than in the December official budget update, according to Deloitte Access Economics.
Treasurer Scott Morrison has backed away from the personal income tax cut he had been hinting at.
It's not easy to prove which type of tax cut will drive more jobs and growth.
In comments to the Coalition joint partyroom, Tony Abbott urged the government to go down the savings path.
On Monday, a scarifying account of Tony Abbott’s prime ministership appears in the bookshops. By journalist Niki Savva, The Road to Ruin: How Tony Abbott and Peta Credlin Destroyed Their Own Government…
Treasurer Scott Morrison was criticised for not announcing any new policy in his National Press Club address.
If Scott Morrison ever watched Joe Hockey and thought "how much better I could do", he's getting a rough lesson in humility.
Treasurer Scott Morrison emphasises the government’s desire to control “new spending” in a speech to the National Press Club.
Treasurer Scott Morrison has "rescaled" the tax debate to hold out the prospect of "modest" tax relief that may prevent average wage earners moving into the second highest tax bracket.
There are some relatively easy administrative ways of tackling bracket creep.
These three tax areas have become mired in poor analysis and misconceptions.
Treasury modelling released by the government backs up Malcolm Turnbull’s decision to walk away from an increase to the GST.
The government has released Treasury modelling showing a tax mix switch with a 15% GST and income tax cuts would deliver no gains to economic growth.
If the tax cuts are paid for partly by expenditure restraint on health, welfare, spending benefits are likely to be negligible.
Hockey's call to cut personal income taxes to improve economic growth sounds reasonable - but this is too simplistic.
Shadow Treasurer, Chris Bowen.
AAP Image/Lukas Coch
The Shadow Treasurer, Chris Bowen, has said that tax as a percentage of the economy is higher now than it was under the previous government. Is that right?
The government taxation mantra of lower, simpler, fairer doesn’t seem to extend to indexing bracket creep.
The government is counting on bracket creep to quietly add to its tax collections. But this is simply taxation by stealth.
The Australian community has been involved in many discussions about tax in the past, and now it’s time for some new decisions.
Image sourced from Shutterstock.com
Five years on from the Henry Tax Review tax reform is upon us again, and this time Australia must plan for the future.
The Abbott government is preparing to give Australians a tax cut, but Treasurer Joe Hockey seems confused as to just how much tax we pay.
Australian Treasurer Joe Hockey claims taxpayers are already paying 50 cents in the dollar of their income to the government and that bracket creep will push the average income earner into the second top…