Australian adults forked out an extra $1900 in income tax each over the past 12 months, as bracket creep fuels the fastest growth in taxes in two decades.
The average Australian aged 15 years and over paid a record $15,344 in income tax in the 12 months to September, according to analysis of national accounts data by The Australian Financial Review.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
