The Governments proposed top-end tax cuts benefit wealthy people most, will cost Australia billions, and will erode Australia's progressive tax system.
It is the top-end tax cuts we need to worry about. The proposed tax cuts will happen in three steps. It is parts of step two and all of step three that are the most unfair and expensive elements of the income tax plan, specifically:
- the lifting of the 37% threshold from $90,000 to $120,000 on 1 July 2022
- the removal of the 37% bracket and the lifting of the top threshold from $180,000 to $200,000 on 1 July 2024.
These two elements will see someone earning $41,000 a year paying the same marginal tax rate as someone on $200,000 a year.
These tax cuts will only further entrench inequality in Australia. Its stage two and stage three of the Governments planned tax cuts that are the most unfair and expensive elements of the government’s income tax plan.
Add your name to the call to block these top-end tax cuts in the Senate.
We the undersigned urge you to oppose the top-end tax cuts, stage 2 and stage 3 of the proposed income tax cuts announced in the 2018 Budget.
Sign on to the petition here --