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Australians who earn under $126,000 face pay cuts as tax offset ends – NEWS.com.au
Australians who earn under $126,000 face pay cuts as tax offset ends
More than 10 million Aussies, who earn less than $126,000, are facing a tax hike from next financial year.About 3.4 million people will be $1080 a year worse off and 7 million will take home less pay, according to analysis by the Bankwest Curtin Economics Research Centre, which was done for The Sydney Morning Herald and The Age.
Without tax cuts for low and middle income earners, there’s a risk Australia’s economic recovery from the pandemic could slow, found the analysis.
The tax offset, which…
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