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Robert Carling – a Senior fellow at the Centre for Independent Studies – has called on the Morrison Government to “end the fiscal repair charade by announcing automatic annual indexation of marginal income tax thresholds” in next week’s federal budget:
The faster nominal incomes grow, the more potently bracket creep lifts average tax rates…
After 2024-25, bracket creep will work to lift the average rate back almost to 26 per cent by 2031-32…
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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.
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