More tax refunds ‘reckless’, Treasurer warned
Treasurer Josh Frydenberg and Labor would be economically reckless to make an election pledge to extend a “temporary” $8 billion tax refund for low and middle-income earners for a fifth straight year, economists have warned.
They said that with the economy rebounding from the NSW and Victoria lockdowns, and budget spending pressures in social welfare programs and defence, it did not need more stimulus via an extension of the low and middle-income tax offset (LMITO).
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