Low and middle-income earners facing biggest tax hit

Friday 7 September 2018

A day after the Centre for International Studies’ (CIS) released ‘research’ lamenting that the top fifth of taxpayers are subsidising the bottom 60%, the Parliamentary Budget Office (PBO) has warned that lower to middle income earners are facing a big lift in their tax burdens over the next decade. From The SMH:

The Parliamentary Budget Office has found the 6 million Australians earning between $23,000 and $64,000 a year will be pushed into higher tax brackets at five times the rate of the 2.6 million earning more than $100,000 by 2027.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.