Mathias Cormann says wage inflation is low,so the problem of bracket creep is ‘not there to the same extent as it might have been in the past’The Turnbull government has backed absent from previously dire warnings approximately the impact of bracket creep, the phenomenon pushing people into higher tax brackets as inflation lifts their wages.
The finance minister, and Mathias Cormann,said wage inflation was low so the problem was “not there to the same extent as it might have been in the past”, allowing the government to scale back its ambition for big income tax cuts.
Continue reading...
Source: theguardian.com