Tax Changes Create $77 Billion War Chest for Future Pre-Election Tax Cuts

Tax Changes Create $77 Billion War Chest for Future Pre-Election Tax Cuts

Tax changes in the budget give the government scope to direct more relief to workers in future, raising the prospect of a 2028 pre-election sweetener. While higher taxes on assets will be returned to workers via tax cuts in the short term, Treasury predicts the budget changes will deliver the government a $77 billion war chest over the 10 years to 2036/37. With a federal election scheduled for 2028, it opens the door for more tax cuts in coming …

Bracket creep will swallow Labor’s workers’ tax offset

Jim Chalmers ignores that the vast majority of the “asset class” have worked their way to wealth through years of disciplined saving and delayed gratification.