Fast-tracked income tax cuts unlikely

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 18-Dec-19

Treasurer Josh Frydenberg has not ruled out bringing forward the next stage of the federal government’s income tax cuts package, which is due to take effect in mid-2022. However, sources have indicated that this is unlikely given the reduction in projected Budget surpluses over the next four years. Meanwhile, Chris Richardson of Deloitte Access Economics argues that bringing forward the second stage of the tax cuts to 2020-21 would require the iron ore price to remain about $US15 per tonne higher throughout that financial year.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, DELOITTE ACCESS ECONOMICS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, BUSINESS COUNCIL OF AUSTRALIA, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE

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