Million face tax sting under Shorten

Original article by Adam Creighton, Rosie Lewis
The Australian – Page: 1 & 2 : 8-Jan-19

The Treasury estimates that about 580,000 Australians will pay the highest marginal income tax rate in 2018-19. However, modelling by the Treasury suggests that this could rise to nearly 1.1 million by 2025 if Labor wins the federal election and proceeds with plans to scrap the Coalition’s proposed increase in the threshold for the top tax rate from $180,000 to $200,000 in 2024-25. The modelling also shows that the number of people in the highest tax bracket would rise to 820,000 by 2024-25 under a Coalition government.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

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