Here’s your knife to cut through Jim’s spin:
• Only 3 of the 5 changes are new in this latest budget
• $79,000 per year income has been assumed here
• $1,000 deduction without receipts from 2026 ($300 reduction assuming they wouldn’t have claimed as much or more with receipts anyway)
• $250 reduction per year for workers from 2027
• Income tax bracket from 16% to 15% from 2026 to 14% from 2027 ($540 per year from 2027)
• Total ~$1,100 reduction in income tax as of 2027
• With average $50,000 annual expenses, inflation will erode disposable income by ~$3,750 per year
• Net position is they’ll go backwards by ~$2,650 per year from 2027
The federal government’s refusal to lift income tax brackets in line with inflation means every dollar earned today above $190,000 is taxed at 47 per cent, instead of the top rate kicking in at more than $280,000.
The top income tax threshold now sits at the lowest inflation-adjusted level in 20 years. It would be $281,450 by now if it had kept up with inflation since 2008-09, the last time high earners had their top income tax threshold substantially increased under changes initiated by the Howard government.
Prime Minister Anthony Albanese’s former economic policy adviser Alex Sanchez said Labor’s decision in 2024 to increase the top $180,000 tax bracket to $190,000, instead of the $200,000 legislated by Liberal prime minister Scott Morrison under the stage 3 tax cuts, was a “terrible mistake”.
https://t.co/CIcSmbnGW5
I got sent this by a friend.
Unfortunately I can't factually disagree with any of it.
If government keep treating the country like nothing more than economic zone, then dont be surprised when people have no loyalty to it.
Australia's current migration intake adds more to housing demand than it does the ability to build new homes.
That is a fairly well established fact.
Chart: Grattan Institute
@NoverreMan I don’t think anyone would actually have even scripted something that absurd! Well done to him, his family and supporters! Incredible effort and another example of why sport is king!!!
We are the last generation to know what it was like before.
We saw people buying affordable houses growing up and the greatest growth in living standards on record.
Only for it all to start to evaporate before we got out of school.
Real per capita consumer spending for Aussies under 45 peaked over 15 years ago.
Real wages for under 35s are roughly where they were 20 years ago.
Household formation rates for 25 to 34s has been literally decimated in the last 20 years.
And worst of all, much of this was driven by very deliberate and celebrated policy choices.
Since care workers and health professionals are used as a justification for high levels of migration, let's go through the hard data on the subject from the ABS.
The following is based on all temporary visa holders in the country at the last census (which includes Kiwi's) and permanent migrants who arrived post-2000).
Health Professionals: 182.3k (147.4k perm)
Health And Welfare Support Workers: 34.2k (23.4k perm)
Carers And Aides: 201.2k (135.2k perm)
In total it comes to 417.7k migrant workers in these roles.
This is the equivalent of 499 days worth of the current intake or 274 days at the peak rate of migration back in September 2023.
The idea that high migration is needed to bring in these individuals simply doesn't hold water, the simple reality is the rest of the world gets by on a fraction of our current per capita migration rate.
Former Cricket Australia chairman Earl Eddings has warned that private investment in the Big Bash League will “kill” Test cricket in this country, condemning a handful of key figures he claims have tried to “sell the soul” of the sport.
https://t.co/ZrDNJsphQD
Explosive claims, is it any wonder Labor do not want a royal commission.
They were briefed says a high-ranking law enforcement professional, with decades of frontline experience in Australia and overseas within the Australian Federal Police
“the repeated briefings, particularly to Foreign Minister Penny Wong and Home Affairs Minister Tony Burke, from security agencies all pointed to a growing and foreseeable threat.
There is a legal term for ignoring such warnings: wilful blindness, when someone deliberately avoids knowing the truth so they can later claim ignorance. It is about accountability for choosing not to see what is in front of them.”
Security insider breaks silence: Don’t swallow the political spin on Bondi https://t.co/7bx9svWwqk