Labor gives larger tax cuts to low income workers

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    Labor's tax policy gives larger tax cuts than the coalition to low income workers.

    Labor also matches the Coalition for middle income earners. The coalition wants to
    flatten the tax rates so the wealthy pay the same tax rate as middle income Australians
    meaning the wealthy get the biggest dollar value cuts.

    "Low-income earners

    Labor has trumped the Coalition when it comes to the lowest-paid workers, offering about 3.7 million Australians earning less than $40,000 up to a 30 per cent higher tax offset than the Coalition.
    Bill Shorten says that benefits more part-time workers, of which more are women, and cost an extra $1 billion to deliver."
    For a worker earning $35,000 would get a tax offset of $255 for this financial year under the Coalition's package.
    That would increase to $350 under Labor.

    Middle-income earners

    No matter who is elected next month, anyone earning between $48,000 and $90,000 is in line for a $1080 tax offset which they’ll receive in their 2018-19 tax return. If you earn more than $90,000, but less than $126,000 you’ll benefit at a reduced amount."
    High-income earners

    While higher income earners miss out on the immediate tax offsets, they stand to gain the most under the Coalition’s longer term changes.
    They include removing the top tax bracket entirely meaning those earning between $120,000 and $200,000 would have their tax rate slashed from 37 per cent to 30 per cent.
    That would save top earners thousands of dollars a year."
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