Incomes lagging rise in cost of living

Original article by David Uren
The Australian – Page: 4 : 7-Feb-19

The Australian National University’s Centre for Social Research & Methods estimates that household income has increased by 8.5 per cent over the last three years. However, the increase in the cost of living over this period means that real income per person has fallen by 2.9 per cent. The analysis also shows that so-called bracket creep saw personal income tax payments rise by 20 per cent to $57.4bn over the three years to 2018, while total disposable income increased by just 7.1 per cent.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY. CENTRE FOR SOCIAL RESEARCH AND METHODS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY

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