The Australia Institute (TAI) has released analysis of the Morrison Government’s tax cut package, which reveals that they will make Australia’s tax system far less progressive with benefits flowing overwhelmingly to higher income earners:
The centrepiece of this budget is large income tax cut that builds on the large income tax cuts in the last budget. Together, these cuts represent over $300 billion in lost revenue over 10 years and a radical reshaping of the purpose of income tax. Income tax in Australia has been a progressive tax where those on higher incomes pay a larger proportion of their income in tax. This funded universal services like health and education.