The offset, which Treasury has estimated comes at a cost of almost $8 billion per year, will make up the bulk of the $15-20 billion worth of new policy that ANZ expects will be announced in the budget on 29 March.
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Government tipped to extend tax break for millions of Aussies
ANZ has predicted the federal government will extend the low and middle income tax offset (LMITO) into the next financial year as the largest single policy in the upcoming budget.
