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…