The promised tax cuts will benefit high earners in 2022 and 2024, but by then they’ll need it.
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Articles on tax cuts
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As the government dropped news of the payment Labor signalled that if elected, there will be another budget in August.
The government shutdown provided a short-term version of what some activists have long wanted: A government small enough so that you could ‘drag it into the bathroom and drown it in the bathtub.’
When assessed by the government’s own rules, MYEFO fails. The government is spending the latest revenue windfall even though it promised not to.
The budget line known as “decisions taken but not yet announced” points to $9 billion of unannounced tax cuts.
Real tax reform is about more than cutting taxes to woo voters. It’s about making the system fairer.
The latest national polls come just days out from Saturday’s Wentworth byelection, which will determine whether the Coalition is forced into minority government.
Michelle Grattan speaks Mark Evans about the week in Australian politics.
Labor’s compromise will allow firms with turnovers under $50 million to keep the tax cut that will be in place at the election.
The estimates have been prepared by the independent PBO, at the request of the Greens. The opposition has repeatedly sought annual figures, but the government resisted the demands.
Comparing companies that receive a tax cut with those that don’t isn’t the right methodology to conclude that tax cuts create more employment or higher wages.
NATSEM analysis of Treasury data shows most of the benefits of the 2024-25 cuts are implemented flow to high income earners.
Here are five ways the Treasurer could boost revenue to make the numbers work.
The government is pinning its hopes on making this election all about tax – casting itself as champion of lower tax and Labor as signed up to what Morrison dubs the “high tax club”.
The Coalition braces for the next Newspoll, while a redistribution gives Labor reason to smile, and the Batman byelection results are finalised.
Unemployment rates have risen in Australia while falling in the US. But Australia has experienced a much smaller decline in the proportion of its population who are in work.
Research shows there is a link between tax cuts and increased business investment, but the effect is likely smaller than politicians and businesspeople say.
Seven charts on the highlights from the government’s mid year update of the budget.
American voters would not give more money to the wealthy.
Universities play a vital role in promoting economic growth, something the writers of the Republican tax plan have apparently forgotten.
Top contributors
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Professorial Fellow, University of Canberra
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Chief executive officer, Grattan Institute
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Associate Professor in Commercial Law and Taxation, Te Herenga Waka — Victoria University of Wellington
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Deputy Program Director, Budgets and Government, Grattan Institute
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Senior Lecturer in Economics, The Open University
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Professor of Industrial Strategy, Co-Director Centre for Governance, Regulation and Industrial Strategy (CGR&IS), University of Bath
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Professor of Economics and National Senior Teaching Fellow, Griffith University
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Senior Lecturer in Economics | Freelance Consultant, Sheffield Hallam University
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Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), Australian National University
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Professor of Taxation, Te Herenga Waka — Victoria University of Wellington
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Senior Lecturer in Accounting, University of Surrey
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Senior Associate, Grattan Institute
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Professor of Political Economy, University of Warwick
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Reader in International Social Policy, University of York
