Amid the slowest wage growth in the nation’s history, the CBA is urging the Morrison Government to bring personal forward tax cuts:
Commonwealth Bank senior economist Belinda Allen said the combination of slowing wages growth and the tapering of government support measures such as JobKeeper meant Treasurer Josh Frydenberg should use the October budget to bring forward personal tax cuts.
“This bolsters the case for the already legislated personal income tax cuts to be brought forward from the current 1 July 2022 start date to boost real household income growth as wages and salaries growth will remain weak,” she said.
