Australian budgetAustralian Economy

Depressionberg readies trickle nowhere tax cuts

David Llewellyn-Smith
Monday, 13 July 2020
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Stupid tax cuts, via The Guardian:

There has been some talk that the “stage 2” tax cuts are good because they assist those on low and middle incomes.

They do, but the gains from increasing the maximum low-income tax offset, and the 19% personal income tax bracket from $37,000 to $41,000 are all offset by the removal of the current low and middle income tax offset.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.