High-income earners are the net winners in the see-sawing income taxes imposed and withdrawn over the next two years, after withdrawal of the 2 per cent deficit levy and the increased 2.5 per cent Medicare levy.
By 2019, top earners will have an effective tax cut of 1.5 per cent, compared with all other taxpayers on less than $180,000 who will begin paying an extra half a percentage point on all their income.
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Fleur Anderson is based in the Canberra newsroom and writes on politics, policy and the economy. Fleur is known for writing the Financial Review's parliamentary sketch. Connect with Fleur on Facebook and Twitter.
