Would an election extend low-middle income tax offset longer?

Today the Treasurer Josh Frydenberg refused to be drawn on the future of the $1080 dollar low and middle income earner tax offset.

The scheme is due to end this financial year, and was originally initiated to help lower income earners get through difficult COVID times, when higher income earners were getting their tax cut tranche. Some economists are worried if the tax cut continues, it could be a catalyst for inflation whilst others are more concerned about the $7 billion dollars per year hit to the budget.

Image: Image: PanuShot via Shutterstock: Financiers are calculating personal tax for customers who use the service.

Produced By: Roderick Chambers

Featured In Story: Dr Elizabeth Morton, RMIT Lecturer in Taxation and Research Fellow at RMIT blockchain Hub

First aired on The Wire, Monday 14 February 2022