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The ‘never never’ flatter tax rates could incentivise work

The ‘never never’ flatter tax rates could incentivise work

The Morrison government’s plan to flatten the tax brackets would incentivise people to work for a higher pay and reduce bracket creep, but with the start date in 2024, experts fear it may become a case of the “never never”.

by Shared by Accountants Daily | Apr 4, 2019

From 2024–25, the government has proposed just three marginal tax rates above the tax-free threshold: 19 per cent for those earning between $18,201 and $45,000; 30 per cent for incomes up to $200,000; and 45 per cent as the highest rate for incomes above $200,001.