Who should I vote for? The ultimate election calculator

How you’ll be hit in the hip pocket post-election might not be as clear as you think. Use our election calculator to see who you should consider voting for.

Investment and tax changes – controversial topics that crunched Labor at the 2019 federal election – are nowhere to be seen in 2022, but there may be future pain.

Memories of the retiree revolt against Labor’s proposed franking credit changes and angst around its negative gearing overhaul have haunted Labor for three years, and both parties have been quiet on this front during the current campaign.

However, there could be tougher tax and other rules after the election is won as the next government seeks to repair the nation’s Covid-hit finances.

Potentially in the firing line are huge income tax cuts for higher income earners from 2024 and generous tax breaks around superannuation for retirees.

Today, however, there are only positive announcements and promises, and our new election calculator can help you work out how they impact you.

Whether you’re a single, family, double-income no-kids couple or retiree, this interactive guide curates both parties’ election promises into a list based on your demographic and life stage.

Things may change after the election.

Financial strategist Theo Marinis said Australia had accumulated a lot of debt in the past decade and at some point it would have to be paid pack.

“I’m a bit cynical – I don’t trust them,” he said of pre-election promises and the wariness among both parties to talk about tax.

Mr Marinis said it appeared that Labor was headed for victory and there had been no tax talk during the campaign.

“They didn’t make too make policy announcements that will hit you in the hip pocket,” he said.

Theo Marinis.

“Then they get in and say ‘we didn’t know how bad it was, the cupboard’s bare unfortunately because of what the last lot did, and we now have to do X, Y and Z.

“They have been quiet this time – they’re like Sergeant Schultz: they know nothing. I hope I’m wrong.”

AMP chief economist Shane Oliver said lessons from the last election had prompted the relative silence this time around.

“Labor feels it should have won that election, but people were scared off by all the changes – particularly in relation to tax,” he said.

“People thought it was too radical and decided to vote for what they knew – the Coalition.

“It’s possible these things could come back after the election, but it would probably work against them if they did because I think voters assume these things aren’t going to come back.”

AMP chief economist Shane Oliver. Picture: Supplied

Dr Oliver said if neither side won a clear majority at Saturday’s election, there was a risk of “a more radical government than people envisaged”.

He said minor parties still wanted tough changes, while the policy differences between the two major parties were not large enough to have a major economic impact. “They are both looking to grow the economy to reduce the deficit.”

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