Opinion
Albanese slams door on Labor’s own tax aspirations
Labor and the Coalition once wanted to cut the top rate of tax to 40 per cent and scrap the 37 per cent bracket. That seems unimaginable now.
Robert CarlingEconomistAustralia’s personal income tax structure has been in a state of flux over many years, and the Albanese government’s backflip over the already legislated stage three tax cuts is best assessed in that context.
Although the government would not put it in these terms, it wants to restore the marginal rate scale to where it was in 2010-11 – at the end of a long stream of tax cuts put in place by the Howard government, starting with the GST compensation cuts in 2000-01.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Tax & super
Fetching latest articles