that millions of taxpayers will see their take-home pay fall next financial year due to the end of the government's low and middle income tax offset.
Mr Morrison said the government had already provided a large number of stimulus measures including the continuation of the LMITO for this year as well as bringing forward tax cuts for higher income earners. Just extending the LMITO for one year would cost between $7 billion and $8 billion. This year the budget deficit is forecast to reach a record $213.7 billion before slipping to $112 billion in 2021-22 when the offset ends.
"It's hard to get a precise handle on what it could mean for consumer spending as it can be offset by running down the high saving rate and if there is a continuing recovery in jobs and incomes, but I suspect though that it could still knock up to 0.5 per cent off consumer spending," he said.Loading The Australian Bureau of Statistics on Wednesday reported consumer inflation rose by 1.6 per cent in the September quarter, driven by the end of free childcare across the country. Prices had fallen 1.9 per cent in the June quarter.
And the other half being men....what’s the point....?
Thatcherism economics
So the other half are.... men?
And in breaking news, the other half are men!
Always fact check Morrison’s announcements He Lies ScomoAgedCareDeaths
The Age:- TAX OFF-SET. Can we now have - 3 CHEERS FOR FRAUDO........
Biden family is corrupted, if you want to know more about Biden family's under table deals with ccp, search GTV on google.
Don’t say do!!!
“Half are women”