I recently wrote a post about the planned 2008-2009 tax cuts and questioned if they were fair for all? It would be great to get your feedback on the tax cuts and to see who really benefits.
In summary, here are the tax cuts:
- Workers earning $15,000 or less will have their tax rates cut by 75 per cent, to just $150 a year
- Those earning $35,000 a year will get a tax cut of $20.19 a week, equivalent to 3 per cent of their salary
- Those on an average wage of $55,000 are in line for an extra $15.86 a week; and those on $60,000, $11.53.
- At the higher end, those on $150,000 or more a year will get the equivalent to just 0.7% of their pay or about $20 a week.
Personally I think they are not going to help much, just fuel inflation.