Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 19-Jun-19
Tom Kennedy of JP Morgan estimates that the third stage of the federal government’s income tax cuts package would boost GDP by about 0.6 per cent from 2024. The stage three tax cuts are worth about $137bn in total, including $42bn worth of tax relief that has already been legislated. However, there is believed to be growing support within Labor to oppose the unlegislated component of the stage three tax cuts and to repeal the legislated component – which is slated to take effect in 2024-25 – if it wins the next election.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, JP MORGAN AUSTRALIA LIMITED