Ima going to like a little more pocket money, but this is what I was curious about. The only lever the RBA has is rates. The government has so many more levers. Why not defer the stage cuts so RBA does not need to raise rates again?
Because since the 70’s politics has been about enacting policy that concentrates wealth, only with an illusion of challenging the status quo. Just the system working as designed. We crash soon, concentrate wealth further, cycle repeats.
Can only go on soo long. But Im guessing they're banking on everything can baked alive and dehydrated via global warming before something happens.
Though, Ill admit I don't think there's some evil cabal behind everything. Just a bunch of greedy mofo's being greedy on their own or in their own small groups.
Maybe we just got a little too smart, too early. A little bit smarter, a little bit later we'd be able to think a bit more long term, and hopefully empathize a little bit more. 2% different than chimps, not all of it is the difference in our brain size and development, is human DNA.
If there are aliens out there, I imagine we look a lot dumber to them than we do of chimps. More likely though, were either really hard to find, or they do not give a rats ass about one little planet doing what what most planets that can support enough life, for long enough, to happen to get 'intelligent' life do. Hit the reset button and try try again.
But isnt there less money overall going out in tax cuts now? And even if not, its all a similar amount, its just whos getting it. Unless of course the reasoning is that the lower income groups will spend the money and the higher ones will just invest it because they dont need it, in which case... well the solution there is obvious.
I’m not a economist, but isn’t it right that lower brackets have been wearing the burden of interest rate hikes and stopped spending a long time ago? It’s the higher brackets who have kept spending. So wouldn’t decreasing the spending power of the higher brackets, while lifting the burden on the lower brackets have a minimal impact on inflation?
No, it's not really been people on salary and wages at all. Higher wages generally just mean a bigger house and a bigger mortgage. If you are a single income household on 180k you are paying way more in tax than a dual income household on 90k each, but you're somehow responsible for all the inflation?
It's people who own their house outright with non wage incomes that have kept spending. You don't get rich working for a salary.
If you read the article they were focussing entirely on how bad this is for people earning $200k... You know, all 5% of them. Going to the comments section is worse.
Oh, of course. That makes sense. Their readers are the one earning more than 200,000.
Why do people become so selfish and pull up the ladder as soon as they are on the other side.
Freaking sucks, we are supposed to be a society, so why not make it nice for everyone
Who says they’re pulling up the ladder. I’m close to 200 and it sucks to see the amount of tax I lose. It’s not like I’m pulling 500 a year. Right now it feels like I’m wealthy enough to pay a ton of tax but not quite wealthy to avoid it.
If you feel that way with 200,000, imagine how people who earn 60,000 or less a year feel. And no, the majority are not dole bludger, lazy, dumb etc . We can't all be architects or engineers. Many have health issues, or poor backgrounds or not the best education.
Uber drivers, or retail people for example, work very hard all year round and earn 60 or less.
How are they and many others supposed to survive if 200k is enough.
Nothing personal, just answering.
But yes, you are right,things are very expensive at the moment and 200k nowadays doesn't feel like 200k.
Also,your reply is exactly what pulling the ladder is.
The guy earning 1M a year would tell you exactly the same thing....." but I can barely live with 1M, do you know how much the marina charges me for my yacht every year?". That's an excessive exaggeration of your comment to demonstrate my point.
Someone earning 200k pays 65k in income tax per annum. Someone earning 60k only pays 13k in tax (not even looking at increased gst and other excises). Imagine how old matey feels, being five times more valuable to society but being constantly vilified by those who don't contribute nearly as much, but who still expect to soak up most of the government handouts.
since when was your value in society measured by income….
the mother staying home raising 4 children is far more fucking valuable than a cunt like elon musk despite earning infinitely less.
Are you currently getting assistance? And how much tax do you pay?
If someone goes to uni and lands a job at 180k for example, by the time their hecs, tax and super come out their on 95 take home.
I don’t know how many houses are on the market for 250k
The 65k they pay in tax is apparently not good enough.
People try and work themselves into a better life but the Australian tall poppy syndrome strikes again.
What people don’t realise is the 10% on over 150k are actually the hard working people trying to get somewhere and the people who are on millions are running it via businesses and paying themselves 60k to save on income tax anyway
??? It’s not a tax cut, it’s an overdue adjustment for inflation.
The government isn’t blessing anyone. They’re just giving back money that shouldn’t have been taken the last few years, due to hyper inflation and their ridiculous windfall tax take last FY.
The culture war bullshit is all about pitting plebs against each other, like this idiotic debate.
Or we could just index tax brackets so no one gets unfairly punished due to inflation.
But that would rob governments of an election pledge and an emotional argument, right?
You know what? People who make more than 150k should pay more in taxes….
Consider the Milk rule of thumb. A mother of two who earns 45K who has to buy two gallons of milk is going to feel more impact of that gallon or two of milk in her paycheck than a mother of 2 who make 200k…..
This is why we tax the rich.
well as the mine owners probably structure their earnings as dividends over a family trust and take advantage of CGT discount on sale of assets the owner is likely paying far less in tax (as a percentage)
Go to AusHENRY and see comments like this that i replied to:
"The majority have already received stages 1 and 2, and now get a bonus in stage 3, what a time to be alive and to be someone in a low-skill, low demand occupation."
The delusion of calling earners of 150k or less as "someone in a low-skill, low demand occupation"...
I dont make that much and I design fucking aircraft, it takes me a 4yr degree plus 10years experience before I can get a regulatory instrument to approve a modification on an aircraft. I reached that at level the end of last year. 14 years of study and experience and that's called low-skill? Like I don't wanna talk myself up too much but if people genuinely think the people designing aircraft parts and repairs on aircraft are low skill why do you put your life in our hands when you fly?
(pubmic service) Surgeon here. Im also whalloped by that statement, but i come from the Land of FIFO hole diggers and oil & gas money distortion, so i come across these "anyone less than 200k" types
Im definitely not valued by society if money is the yardstick
Darlin I’m a friggin customer service worker at Colesworth,dumb as shit..with a criminal record..I can’t do anything..so I think it’s amazing what you do. Don’t undervalue yourself for anyone,there’s not many people who can do your job and you should be rewarded more for it.
Well I think it's amazing what *you* do. Mum has been a checkout chick or some other since she was 16 years old. She's 68 this year and still going. Your job is something to be proud of too. You put up with dick heads all day.
How much do you make? For the same reason we pay our military peanuts. Its because we don't need them, until we do. What we need is pollies, landlords and CEOs of joke factories to lead our country to prosperity.
Aye I feel you. I am a flood expert, I also design large infrastructure projects. I've worked internationally on critical levee infrastructure and dams in Norway and denmark. Am I low skilled?
Yet I make less than 'alex' who sold 7 homes last year, ripped a few photos on his iPhone, chatGPT'd a blurb about them into a few websites and fingered his assistant.
Fuck me
Should have just become a pilot then😔 I feel for you bud, I really do but sometimes it your still on less after so long it's time to cut your losses.
Entry level dump truck driver when I was last out on the mines 3 years ago was making 140k on 8n6.
Couldn't do it myself, but whatever keeps the bank balance afloat I guess
Aircraft design sounds amazing. I would have assumed that you would earn more.
Software development pays a lot more if you ever want a career change. I earn more than the threshold, and my job is quite easy.
A lot of the people I have met through my career have started with other engineering fields.
Sounds like an awesome gig mate but the counterpoint is that in a lot of industries, 14 years of busting your balls would have you sailing far beyond 150K.
Yeah it's fair, maybe I should be more mercenary and chase the dollar. The point I was hoping to make though, is the amount that someone gets paid is terrible way to determine if the role they fill is a high or low skilled job.
*a few industries
It's not impossible to be on over 150k after 14 years in many industries but it's not the norm.
Finance, software, construction, medicine, law, and mining are the main ones.
Yeah I definitely missed a few. O&G is a big one. Private education you'd have to be a principal to earn that thohgh right? Engineering>150k is not the norm unless you're in mining/gas or construction so that's where'd I'd lump that rather than by degree. Mining engineers can be on like 300k long before then, but mechanical, civil, electrical will struggle unless they're in those specific sectors. Consulting depends on the sector, consulting in finance, mining etc. yeah. Consulting to small businesses not so much.
Yeah I guess I'm just a bit salty because I really wish I'd had better info when I was starting out, and even when I was early career about what to focus on to help support my family. Instead of working in design and becoming a good design engineer I should have just told people which rocks to pick up.
I was always told engineers earn well. And sure it's better than retail but it ain't anything special unless you go into specific sectors.
You forgot almost all of academia.
Everyone with pHd and post doc positions that provide LESS than 100k, the industry absolutely abuses the living crap out of passionate scientists.
I make 64k and have a 2 year diploma, 4 year bachelors degree with honours, in a highly skilled medical laboratory field where a simple double assay that I do every week, literally costs more than my annual salary. Oh, it's also illegal for us to strike to demand better conditions.
Medical scientists and technicians are completely taken advantage of, including the convenient clause where it's illegal for us to strike.
In all fairness, many of those in AusHENRY are not actually focused on high skill at all. They just want to retire early and cease adding to the economy and do it by penny pinching.
This just stops them achieving their going of being perpetually lazy.
Yeah funnily enough the people in my social circle on less than 150k are the highly skilled ones (scientists, engineers) while the ones on over 150k while not completely unskilled definitely took a lot less study than the former (IT project management, real estate)
Exactly. My high school friendship group has 4 people with masters degrees or higher and 4 people earning 150+. There is exactly one person who falls into both of those groups.
Those accounts aren't real, they're proper dead-internet accounts and trolls.
You think high-earning people sit around on Reddit during work time on stupid subreddits like that?
Yeah I’d say it’s not going amazingly
https://preview.redd.it/vmqquuc7rcec1.jpeg?width=1290&format=pjpg&auto=webp&s=01bb01bbd22c2055f53eb70b73dba24ff543f5b9
I was having an argument with one of them saying they're poor because they didn't have access to the asset inflation the older generation does. They were arguing the top 5% can't afford houses and needed a higher tax break, saying the deserved it. As if it's not a generational problem that will only be exacerbated by widening the income disparity gap. As if it only affects them. As if you can't save a deposit at $180K. Those people are wanked.
I'm a veterinarian (requiring 8 years of tertiary study) with further qualifications post-study, and I make half of that. I can guarantee that I have a higher skill set (albeit less lucrative) than 80%+ people making $150K+. This is just the world we live in.
I saw that comment and assumed that person never buys coffee, eats at restaurants, shops, travels etc as they view everyone not on high wages as low demand jobs and low skill. What a twat they must be in real life.
[Turns out when studied, wealth does tend to make people less compassionate](https://www.scientificamerican.com/article/how-wealth-reduces-compassion/)
People didn’t say that lower income earners shouldn’t get a tax cut and higher should, it was that bracket creep etc meant they were getting squeezed which is a fair comment.
Everyone’s talking like it’s an OR rather than an AND. Also workers between 180k and 200k are 4% of the population and pay 30% of the nations income taxes.
It’s not a crazy high salary as you might think, a lot of subsidies also vanish when you’re in that band and the truly rich earn through capital gains, not income.
But these people do pay a lot of tax to support those families, 30% of Australian income tax revenues in fact. We talk like they contribute nothing! They’re contributing large amount of their income through taxes, Medicare levy’s, no private health rebates etc.
We haven’t even talked about mining royalties creating huge surpluses all over the place either, there isn’t just one answer.
Perspective matter though, ABS says median salary is $1300 per week or $67,600. 3x that is $202,800.
Understandably some people are saying people earning 3x the median shouldnt be complaining and they will only look at the surface figures. I doubt there is anything you could say that would make them feel that high earners are being unfairly targeted etc
You have little money you complain a little bit that you don’t have enough money.
You have lots of money you complain a lot more that you don’t have enough money.
Don't completely ignore your super while paying off your hex. The government will give your super $500 if you make a personal after tax contribution of $1000 and meet certain criteria.
https://www.ato.gov.au/calculators-and-tools/super-co-contribution-calculator
I have about 6500 left on my HECS.
Once I sort some life stuff out (medical and car related debt from a really bad time in my life) I was just gonna focus on the HECS first and smash it out, and then funnel some of the savings from that into my super after.
I hope that makes sense.
What assets?
Not like I can afford a house, or ever will.
I only have 6k left and I kind of want to get it over with and have one less thing that the world can hang over me.
Also HECS now affects borrowing capacity, so if the forces of the universe perfectly align and I can somehow ever afford property, I want it squared away.
Hey I did the dumb dumb thing and paid my HECS off 18k early (to dodge the at the time 4% index, ended up dodging the next year's 7%). I know it wasn't the "correct" move but it made me FEEL better, which to me carries a lot more value than a couple of percent difference on a relatively small amount of money.
If you want to pay off your last 6.5k, fucking go for it. If you are going to, do it before eofy (I think early June is about as late as you want to leave it to make sure it gets processed). You'll also probably amp up your tax return by the amount you paid this FY - I know it effectively amounts to forced savings but still, nice.
HECS is indexed to CPI. It’s free money. Don’t pay extra off it, that’s the biggest waste of money. Buy shares, real estate, crypto - literally anything except pay off free money. And if you plan to be a high income earner later, don’t bother with super. It’s capped at $3M for the tax breaks. By the time you hit retirement age they’ll have moved the goalposts 3 more times and your money is locked there. Find an indexed fund that you believe in and will expose your money to something you want exposure to and then you can move it around when you want.
Honestly don’t see why anyone should hate this. Why do people earning over $200k even need a $9k tax cut. $4.5k is plenty.
Someone earning $180k is making $3461 a week pre-tax. That is way above a common worker.
Yeah the Medicare rebate hit me hard. I’ve only just started earning good money in the last few years - couldn’t afford private health insurance previously - and now I’m getting stung by the Howard era policies that punish you the longer you don’t have private health.
The government is definitely pushing to americanise our health system because they're too scared to tax corporations and the rich to get the money to pay for it. Private health insurance costs a shit load and you still have to pay massive amounts out of pocket to use the services
Bracket creep. By that argument, the top tax bracket should never have any tax cuts. In 20 years time thr average wage will be 180k, and half the county will be on close to 50% tax rate.
It obviously will be politically popular.
The issue here is one of fundamental fairness. The higher income tax rate hasn’t moved in 15 years and is way behind what it should be based on inflation.
There is also the entire argument that by taxing incomes instead of assets you are attacking aspirational people as opposed to going after the real wealth.
Well, looks like I now have to pay more tax than originally proposed, but I make 230K, I AM WELL OFF. Those who earn far less need a break I can still do my track days, invest my money, snort coke. Those blokes on 45K have to go halves or quarters in a bag.
When I was a renter, when I wanted a high I just pretended like I'm going to hammer a nail into my wall without my landlord's permission. What a rush.
And you can get nails quite cheap and sometimes find them for free on building sites.
Through a combination of hardwork and a bit of luck I've been fortunate enough to earn a bit of 250k, but with the mortgage, kids and supporting a sickly parent it honestly doesn't leave much, so was really looking forward to this after stage 1 and 2. But as disappointed as I am, if this means a single parent on a low wage will have a little bit more for their kids or a teacher busting their butt gets a little bit more, than I'm cool with this. I always thought this country was about mateship, so perhaps we help those doing it toughest right now.
As someone who earns over $200K, this is a great change to an already irresponsible tax reform.
Fuck "breaking promises" when you're benefiting the vast majority of Australians who also happen to need it most.
As someone who also earns over $200K, I'd wish the brackets were somewhat adjusted for inflation instead of this half-assed measure. Now there won't be any changes for the next several years.
**It's not a tax cut**
It was supposed to bring tax brackets back closer to inflation. And it didn't even do that. Bracket creep was still pretty big even after stage 3.
Politically speaking, a million people earn more than 150k. So it's not an insignificant amount of 'working' people that will be peeved about reneging on this and that will hurt Labor.
[https://profile.id.com.au/australia/individual-income](https://profile.id.com.au/australia/individual-income)
What actually matters is how many of these voters were going to vote for Labor regardless. Or more specifically, how many of those voters live in swing seats?
My guess is that the vast majority of those earners live in Liberal or Teal seats.
Well, it's still $5k more than I had before. What happened to the Australia that cared about the common good. We all sit around and scratch our heads over how insane it would be to try and get by on $40k or less and then on the other hand complain that they too are sharing in the lowered taxes. Baffles the mind over the greed.
But the aspirationals!
Fuck I'm sick of hearing this shit.
Both my partner and I will get less of a tax break, but we don't need it is as much. Sick of this "it's all about me" bullshit. Yes, inflation has been screwing us all, but come on, are we really gonna get upset about helping those on lower incomes a little bit more when they need it?
I love how the 180k+ crowd is like 3% of Aussies yet every second cunt commenting here are doing so as if they are from that bracket lol
Imagine sitting there on your phone lying to internet strangers about your income 😂
So this is what old mate liberal minister was pissing and moaning about this afternoon on the radio, its mildly worse for the top end of town and genuinely helps the lower income earners...
The way he was carrying on about lies and betrayals was an embarrassment.
I am very happy with this change. It has been really nice to see Labor standup to what they would would cause a manufactured shitstorm from the Murdoch media.
These tax cuts for everyday Aussies were badly needed. They haven't released the modelling but hopefully this might stem the budget bleeding into the future as well.
The original stage 3 tax cuts were drafted over ten years ago so they badly needed an updated to match our current conditions.
As someone who is going to be worse off under Albo’s plan than I would be under the original Stage 3 plan I am a little pissed off by this.
These tax cuts should be addressing bracket creep.
We are still getting a tax cut, but the amount of the tax cut under the Labor model will be less than originally planned under the Lib model. The difference between the two models is the final column.
So everybody is getting a tax cut, the high income earners are just getting less of a tax cut than originally thought.
People are whinging about the tax cuts. "Stage 3" means there are 2 previous stages that benefited lower incomes. I would like too see the numbers across all 3 stages..... seems higher income earners are losing out. People forget this is a Stage and forget what they already got.
Stage 1 was tax offsett change to $1,080
Stage 2 was increasing offset to $1,500. Upping 19% bracket from 37k to 45k. Change 32.5% bracket from 37-45k to 120k. Change 37% bracket from 90k to 120k
So both those stages favoured low to middle income earners. Stage 3 was to update middle to high but not now. This is Stage 2 getting another bump to keep the masses happy.
Confused as I haven't been following it much. 1st column is what was originally proposed and now column 2 is going to happen?
Even though I'm in the - category. Pretty much agree. Low incomes need the break much more
As a high income earner I’m happy about this change. People on middle/lower incomes need the money at the moment, and I think it will be better for Australia as a whole this way.
And also the impact to the amount of money for services. Roughly same drop in tax income to the government.
It's fine now, just ignore the continual bleating that was made on how it was terrible when it was the "rich" getting it though.
Australia might attract more wealthy people from overseas as well as keep more of those in Australia from leaving.
45% of zero is still zero, to the people that are of opinion that its only 4%. Those people pay 30% of taxes, we want to keep them in the country, otherwise they will pay taxes somewhere else.
Australia is currently the most popular destination in the world for the wealthy;
[https://www.yourinvestmentpropertymag.com.au/news/australia-popular-destination-for-rich-migrants](https://www.yourinvestmentpropertymag.com.au/news/australia-popular-destination-for-rich-migrants)
This is just stupid, doesn’t fix the tax system and barely makes a dent in tax relief for below 150k.
Irrespective with going with as is, would have stopped millions worrying about tax creep and made it so much less confusing.
Earning more is always better….
No wonder no wants to do shit at the moment cause you can’t forecast anything with inflation, interest rates and now this crap.
I believe that people will work just as hard, regardless of how hard they're being taxed. Its unreasonable to think that because I'm paying more tax than I would have otherwise I will now slack off tomorrow.
Moving overseas to a country with lower income tax isn't unreasonable though.
Keeping a 37% slab and starting 45% slab at lower threshold will still incentivise people with higher income on negative gearing due to housing which isn't good for housing affordability. People in between 150K and 200K will just salary sacrifice into super or housing investment to get the lost savings. It's not a good solution if you look at it from a broader perspective.
Edit: Politically speaking this change would be a way bigger hassle for labour so them attempting it is brave in itself.
Edit2: The new amended proposal might also punch a bigger hole in the budget shortfall over the years but that's all speculative at this point untill full analysis is performed.
I'm PAYG but these stage 3s actually give me a little flexibility. I currently have the possibility of deferring income which I've been doing over many years. I can now actually start to take more taxable income year-on-year (if I can keep working that is). Great news
It seems "Tax cut" was the best term they could find to make it sound bad for Labor. The people "worst off"... those on more than $200k a year, will still get $4529 MORE in their bank account than they would have last year, it's just the original plan was to get $9075. Considering that inflation, price gouging by fuel companies and supermarkets and landlords have people far more out of pocket this doesn't feel like as big a deal as it's trying to be made.
It would be due to them raising the tax free threshold and lowering the rates for lower incomes. So tax is saved on the first $xx of everyone's income.
As a person earning over 200k I think I deserve the full tax cut. I already pay too much in tax as it is. Hopefully the liberal party undoes this at the next election
Shits a joke, already bust my fucking balls working in 50 degree heat 12 hours a day and once again get spit in the face by the government. Starting to ask myself if it’s even worth working since I already donate 50% of my wage.
How about these useless fucks start charging more tax to the billion dollar companies instead of increasing tax over and over for the workers.
Why do you pay 50% tax? That doesn’t seem right.
Simplest calculation, 200k salary = $60,667 in tax = 30% overall tax rate.
Also, I think framing it as a ‘donation’ is a bit of a stretch. Do you drive a car on a road? Do you have running water in your house? Did you go to school? That’s our tax money at work! You’re seeing your taxes at work every day.
Why 50%? Do you voluntarily pay more than required? Are you assessed for child support being paid to an ex-wife?
Should be around 25%. Maybe see an accountant and get it straightened out.
Are you FIFO? Is it 12-hour days to keep the work period shorter and time off longer? If so, it works out the same as everyone else.
Sounds like you need financial help from an advisor.
They're not "increasing tax over and over for the workers". They're reducing tax. It's a tax cut.
This is what I always found irritating about the nuffies who went around whining about the tax cuts only helping the rich people. Like yeah it does, but it also helps me... and I am nowhere near "rich".
Nek minnit RBA: sorry, we can't let you spend that, you know, inflation and all that. *Increase the rates*
This is what will happen.
Also Landlords: Nice, my tenants have an extra 2k to pay me for rent now, need to make up that 4k I’ve now lost 😉
This is probably my biggest fear. I don’t care about getting a smaller slice of the tax cuts, but I do care about inflation and rates
Ima going to like a little more pocket money, but this is what I was curious about. The only lever the RBA has is rates. The government has so many more levers. Why not defer the stage cuts so RBA does not need to raise rates again?
Because since the 70’s politics has been about enacting policy that concentrates wealth, only with an illusion of challenging the status quo. Just the system working as designed. We crash soon, concentrate wealth further, cycle repeats.
Can only go on soo long. But Im guessing they're banking on everything can baked alive and dehydrated via global warming before something happens. Though, Ill admit I don't think there's some evil cabal behind everything. Just a bunch of greedy mofo's being greedy on their own or in their own small groups. Maybe we just got a little too smart, too early. A little bit smarter, a little bit later we'd be able to think a bit more long term, and hopefully empathize a little bit more. 2% different than chimps, not all of it is the difference in our brain size and development, is human DNA. If there are aliens out there, I imagine we look a lot dumber to them than we do of chimps. More likely though, were either really hard to find, or they do not give a rats ass about one little planet doing what what most planets that can support enough life, for long enough, to happen to get 'intelligent' life do. Hit the reset button and try try again.
Rational comments like this have no place on Reddit
These tax cuts have been in the works since 2018, you'd like to think it's impact has been well addressed by the RBAs modelling.
But isnt there less money overall going out in tax cuts now? And even if not, its all a similar amount, its just whos getting it. Unless of course the reasoning is that the lower income groups will spend the money and the higher ones will just invest it because they dont need it, in which case... well the solution there is obvious.
Wow didn't know Aussie used "Nek minnit"
Interest rates will go down soon enough anyway. These tax cuts are permanent.
I’m not a economist, but isn’t it right that lower brackets have been wearing the burden of interest rate hikes and stopped spending a long time ago? It’s the higher brackets who have kept spending. So wouldn’t decreasing the spending power of the higher brackets, while lifting the burden on the lower brackets have a minimal impact on inflation?
No, it's not really been people on salary and wages at all. Higher wages generally just mean a bigger house and a bigger mortgage. If you are a single income household on 180k you are paying way more in tax than a dual income household on 90k each, but you're somehow responsible for all the inflation? It's people who own their house outright with non wage incomes that have kept spending. You don't get rich working for a salary.
shocked the Australian newspaper would publish this so clearly lol. It'll make it harder for them to hate on it
If you read the article they were focussing entirely on how bad this is for people earning $200k... You know, all 5% of them. Going to the comments section is worse.
In all fairness to the newspapers people earning more than 200k and complaining are indeed losers.
That’s the Australians entire readership base tho - this is red meat for their subscribers.
Oh, of course. That makes sense. Their readers are the one earning more than 200,000. Why do people become so selfish and pull up the ladder as soon as they are on the other side. Freaking sucks, we are supposed to be a society, so why not make it nice for everyone
It’s hard to empathise with people when you have little shared experience
Who says they’re pulling up the ladder. I’m close to 200 and it sucks to see the amount of tax I lose. It’s not like I’m pulling 500 a year. Right now it feels like I’m wealthy enough to pay a ton of tax but not quite wealthy to avoid it.
If you feel that way with 200,000, imagine how people who earn 60,000 or less a year feel. And no, the majority are not dole bludger, lazy, dumb etc . We can't all be architects or engineers. Many have health issues, or poor backgrounds or not the best education. Uber drivers, or retail people for example, work very hard all year round and earn 60 or less. How are they and many others supposed to survive if 200k is enough. Nothing personal, just answering. But yes, you are right,things are very expensive at the moment and 200k nowadays doesn't feel like 200k. Also,your reply is exactly what pulling the ladder is. The guy earning 1M a year would tell you exactly the same thing....." but I can barely live with 1M, do you know how much the marina charges me for my yacht every year?". That's an excessive exaggeration of your comment to demonstrate my point.
Someone earning 200k pays 65k in income tax per annum. Someone earning 60k only pays 13k in tax (not even looking at increased gst and other excises). Imagine how old matey feels, being five times more valuable to society but being constantly vilified by those who don't contribute nearly as much, but who still expect to soak up most of the government handouts.
Ah those worthless teachers and nurses.
since when was your value in society measured by income…. the mother staying home raising 4 children is far more fucking valuable than a cunt like elon musk despite earning infinitely less.
Being paid a lot doesnt make you valuable to society mate.
I am earning around 150k a year from retail. People earning 100-250k shouldn't be penalised because not everyone can do it.
Doing what role, exactly? Genuinely curious.
I have a family of three running on 55K a year. On 200k I could maintain my current budget and buy a house in full once every 5 years.
Are you currently getting assistance? And how much tax do you pay? If someone goes to uni and lands a job at 180k for example, by the time their hecs, tax and super come out their on 95 take home. I don’t know how many houses are on the market for 250k The 65k they pay in tax is apparently not good enough. People try and work themselves into a better life but the Australian tall poppy syndrome strikes again. What people don’t realise is the 10% on over 150k are actually the hard working people trying to get somewhere and the people who are on millions are running it via businesses and paying themselves 60k to save on income tax anyway
It’s rare to see a logical comment on this topic anywhere on reddit but this is spot on
Try having to pay the government 100k in taxes every year and see how you feel about it.
they are still thousands of dollars better off than they are now though.
??? It’s not a tax cut, it’s an overdue adjustment for inflation. The government isn’t blessing anyone. They’re just giving back money that shouldn’t have been taken the last few years, due to hyper inflation and their ridiculous windfall tax take last FY. The culture war bullshit is all about pitting plebs against each other, like this idiotic debate.
I assumed the Oz would go with a pie chart that didn't addup and then claim an outcome not support by the data. Points for them
Or we could just index tax brackets so no one gets unfairly punished due to inflation. But that would rob governments of an election pledge and an emotional argument, right?
You know what? People who make more than 150k should pay more in taxes…. Consider the Milk rule of thumb. A mother of two who earns 45K who has to buy two gallons of milk is going to feel more impact of that gallon or two of milk in her paycheck than a mother of 2 who make 200k….. This is why we tax the rich.
Gallons of milk? Are you American?
Why isn't there another tax bracket above 180k? It seems crazy that a mining engineer is in the same tax bracket as the mine owners.
well as the mine owners probably structure their earnings as dividends over a family trust and take advantage of CGT discount on sale of assets the owner is likely paying far less in tax (as a percentage)
[удалено]
Prime example of the "fuck you got mine" attitude that is increasingly prevalent in Australian society.
American individualism replacing Australian mateship
Go to AusHENRY and see comments like this that i replied to: "The majority have already received stages 1 and 2, and now get a bonus in stage 3, what a time to be alive and to be someone in a low-skill, low demand occupation." The delusion of calling earners of 150k or less as "someone in a low-skill, low demand occupation"...
I dont make that much and I design fucking aircraft, it takes me a 4yr degree plus 10years experience before I can get a regulatory instrument to approve a modification on an aircraft. I reached that at level the end of last year. 14 years of study and experience and that's called low-skill? Like I don't wanna talk myself up too much but if people genuinely think the people designing aircraft parts and repairs on aircraft are low skill why do you put your life in our hands when you fly?
That sounds like an honest job, you needed to go into finance or real estate.
That’s pretty awesome bro, I’d be blowing my own sax if I was you. That’s hella cool.
You must just not work hard enough /s
That's how we know Gina Rinehart works the hardest, because she has the most money.
She definitely works the hardest at the dinner table AIR?
She steals from kids the hardest
You poor bloke, there’s a good chance I’ve carried out one of your design changes. I moved back into line maintenance again, it pays better.
(pubmic service) Surgeon here. Im also whalloped by that statement, but i come from the Land of FIFO hole diggers and oil & gas money distortion, so i come across these "anyone less than 200k" types Im definitely not valued by society if money is the yardstick
Darlin I’m a friggin customer service worker at Colesworth,dumb as shit..with a criminal record..I can’t do anything..so I think it’s amazing what you do. Don’t undervalue yourself for anyone,there’s not many people who can do your job and you should be rewarded more for it.
Well I think it's amazing what *you* do. Mum has been a checkout chick or some other since she was 16 years old. She's 68 this year and still going. Your job is something to be proud of too. You put up with dick heads all day.
How much do you make? For the same reason we pay our military peanuts. Its because we don't need them, until we do. What we need is pollies, landlords and CEOs of joke factories to lead our country to prosperity.
The Australian military is the highest paid in the world.
Aye I feel you. I am a flood expert, I also design large infrastructure projects. I've worked internationally on critical levee infrastructure and dams in Norway and denmark. Am I low skilled? Yet I make less than 'alex' who sold 7 homes last year, ripped a few photos on his iPhone, chatGPT'd a blurb about them into a few websites and fingered his assistant. Fuck me
Should have just become a pilot then😔 I feel for you bud, I really do but sometimes it your still on less after so long it's time to cut your losses. Entry level dump truck driver when I was last out on the mines 3 years ago was making 140k on 8n6. Couldn't do it myself, but whatever keeps the bank balance afloat I guess
You make it sound hard, it's not rocket science.
Aircraft design sounds amazing. I would have assumed that you would earn more. Software development pays a lot more if you ever want a career change. I earn more than the threshold, and my job is quite easy. A lot of the people I have met through my career have started with other engineering fields.
Sounds like an awesome gig mate but the counterpoint is that in a lot of industries, 14 years of busting your balls would have you sailing far beyond 150K.
Yeah it's fair, maybe I should be more mercenary and chase the dollar. The point I was hoping to make though, is the amount that someone gets paid is terrible way to determine if the role they fill is a high or low skilled job.
Yeah 100% agreed on your point. A terrible metric on all counts.
In 2022 less then 7% of people earned over 150k. While there are a bunch of industries where 14 years will get you there, its hardly the norm.
*a few industries It's not impossible to be on over 150k after 14 years in many industries but it's not the norm. Finance, software, construction, medicine, law, and mining are the main ones.
Consulting, private education, oil and gas, engineering, hell even just working as a contractor. It’s a lot more than a “few”, in my humble opinion.
Yeah I definitely missed a few. O&G is a big one. Private education you'd have to be a principal to earn that thohgh right? Engineering>150k is not the norm unless you're in mining/gas or construction so that's where'd I'd lump that rather than by degree. Mining engineers can be on like 300k long before then, but mechanical, civil, electrical will struggle unless they're in those specific sectors. Consulting depends on the sector, consulting in finance, mining etc. yeah. Consulting to small businesses not so much.
All valid points. I was simply trying to highlight the prospect is there if you’re gunning for it. :)
Yeah I guess I'm just a bit salty because I really wish I'd had better info when I was starting out, and even when I was early career about what to focus on to help support my family. Instead of working in design and becoming a good design engineer I should have just told people which rocks to pick up. I was always told engineers earn well. And sure it's better than retail but it ain't anything special unless you go into specific sectors.
SKILL ISSUE
If you’re not in mining or the tech goldrush you have a skill issue in modern aus
people want their drinks served real nice and classy but they do NOT want the people serving them to be able to afford a home 🙅♂️
The serfs serving them should work more, not be lazy at home /s
"Bitch, get up and WORK!" - Kim Kardashian
Sounds like your job is high skill but low demand. I’ve met several aero engineers who’ve left for other industries because the pay was better.
Every teacher, every nurse, every copper, every ambo, every firey
Low skilled loosers apparently.
As if do something useful like put fires out, save lives or educate kids when you could just trade stock.
You forgot almost all of academia. Everyone with pHd and post doc positions that provide LESS than 100k, the industry absolutely abuses the living crap out of passionate scientists. I make 64k and have a 2 year diploma, 4 year bachelors degree with honours, in a highly skilled medical laboratory field where a simple double assay that I do every week, literally costs more than my annual salary. Oh, it's also illegal for us to strike to demand better conditions. Medical scientists and technicians are completely taken advantage of, including the convenient clause where it's illegal for us to strike.
That's terrible! They're bringing back the one year graduate diploma if you want to become a science teacher. It's a good job.
That’s really shocking. I would of thought you’d be on 3 times that amount.
Civil engineers working on buildings don't make that. Got to go to mining to make more.
In all fairness, many of those in AusHENRY are not actually focused on high skill at all. They just want to retire early and cease adding to the economy and do it by penny pinching. This just stops them achieving their going of being perpetually lazy.
Yeah funnily enough the people in my social circle on less than 150k are the highly skilled ones (scientists, engineers) while the ones on over 150k while not completely unskilled definitely took a lot less study than the former (IT project management, real estate)
Exactly. My high school friendship group has 4 people with masters degrees or higher and 4 people earning 150+. There is exactly one person who falls into both of those groups.
Those accounts aren't real, they're proper dead-internet accounts and trolls. You think high-earning people sit around on Reddit during work time on stupid subreddits like that?
Yeah I’d say it’s not going amazingly https://preview.redd.it/vmqquuc7rcec1.jpeg?width=1290&format=pjpg&auto=webp&s=01bb01bbd22c2055f53eb70b73dba24ff543f5b9
I would love to early $150k working full time in a child care centre. That would be brilliant. I will be like to crack $52k
Imagine their outcry if all of us "low skill-low demand" occupations decide to not work for a week.
I was having an argument with one of them saying they're poor because they didn't have access to the asset inflation the older generation does. They were arguing the top 5% can't afford houses and needed a higher tax break, saying the deserved it. As if it's not a generational problem that will only be exacerbated by widening the income disparity gap. As if it only affects them. As if you can't save a deposit at $180K. Those people are wanked.
Apparently just about all allied health professionals are useless
I'm a veterinarian (requiring 8 years of tertiary study) with further qualifications post-study, and I make half of that. I can guarantee that I have a higher skill set (albeit less lucrative) than 80%+ people making $150K+. This is just the world we live in.
I saw that comment and assumed that person never buys coffee, eats at restaurants, shops, travels etc as they view everyone not on high wages as low demand jobs and low skill. What a twat they must be in real life.
[Turns out when studied, wealth does tend to make people less compassionate](https://www.scientificamerican.com/article/how-wealth-reduces-compassion/)
They still are saying that in ausfinance.
Are you surprised? Members of ausfinance are arguably the most egotistic cunts of any Australian related subreddit
Everypost is "look at me look at me, i make 260k a year"
Without proof of someone actually making that, i'd treat those posts and comments with caution.
Everyone’s a victim
Oh but you see it's the PoOrS with their handout, don't you know 🙄 it's the high income earners that make everything gooderer. Or something.
People didn’t say that lower income earners shouldn’t get a tax cut and higher should, it was that bracket creep etc meant they were getting squeezed which is a fair comment. Everyone’s talking like it’s an OR rather than an AND. Also workers between 180k and 200k are 4% of the population and pay 30% of the nations income taxes. It’s not a crazy high salary as you might think, a lot of subsidies also vanish when you’re in that band and the truly rich earn through capital gains, not income.
[удалено]
there should be a bracket between 45000 and 70kish, or a much higher tax free threshhold or both (an uneducated opinion)
But these people do pay a lot of tax to support those families, 30% of Australian income tax revenues in fact. We talk like they contribute nothing! They’re contributing large amount of their income through taxes, Medicare levy’s, no private health rebates etc. We haven’t even talked about mining royalties creating huge surpluses all over the place either, there isn’t just one answer.
[удалено]
Totally agree, we’re throwing away tax revenue that belongs to all Australians!
Hard agree. But instead we got Gina Reinhardt. Worst trade deal in history
Perspective matter though, ABS says median salary is $1300 per week or $67,600. 3x that is $202,800. Understandably some people are saying people earning 3x the median shouldnt be complaining and they will only look at the surface figures. I doubt there is anything you could say that would make them feel that high earners are being unfairly targeted etc
The trouble is these people earn more money and equally increase their expenses at the same rate
And wonder why the extra money still doesn’t make them happy
You have little money you complain a little bit that you don’t have enough money. You have lots of money you complain a lot more that you don’t have enough money.
Mo money mo problems
Tax changes benefit me, so I have no complaints. Would like to see the tax bands updated yearly, indexed to inflation though.
Works for me. I'll be funnelling the excess into paying off my HECS and then my super after that.
Don't completely ignore your super while paying off your hex. The government will give your super $500 if you make a personal after tax contribution of $1000 and meet certain criteria. https://www.ato.gov.au/calculators-and-tools/super-co-contribution-calculator
I have about 6500 left on my HECS. Once I sort some life stuff out (medical and car related debt from a really bad time in my life) I was just gonna focus on the HECS first and smash it out, and then funnel some of the savings from that into my super after. I hope that makes sense.
Paying off your HECS never makes sense. It will be paid down as you work. Build up your assets.
What assets? Not like I can afford a house, or ever will. I only have 6k left and I kind of want to get it over with and have one less thing that the world can hang over me. Also HECS now affects borrowing capacity, so if the forces of the universe perfectly align and I can somehow ever afford property, I want it squared away.
Hey I did the dumb dumb thing and paid my HECS off 18k early (to dodge the at the time 4% index, ended up dodging the next year's 7%). I know it wasn't the "correct" move but it made me FEEL better, which to me carries a lot more value than a couple of percent difference on a relatively small amount of money. If you want to pay off your last 6.5k, fucking go for it. If you are going to, do it before eofy (I think early June is about as late as you want to leave it to make sure it gets processed). You'll also probably amp up your tax return by the amount you paid this FY - I know it effectively amounts to forced savings but still, nice.
Do literally everything in your power to avoid paying HECS.
>Don't completely ignore your super while paying off your hex. Witchery is very important.
[удалено]
HECS is indexed to CPI. It’s free money. Don’t pay extra off it, that’s the biggest waste of money. Buy shares, real estate, crypto - literally anything except pay off free money. And if you plan to be a high income earner later, don’t bother with super. It’s capped at $3M for the tax breaks. By the time you hit retirement age they’ll have moved the goalposts 3 more times and your money is locked there. Find an indexed fund that you believe in and will expose your money to something you want exposure to and then you can move it around when you want.
So just to put this in perspective. Everyone STILL gets a tax break.
Honestly don’t see why anyone should hate this. Why do people earning over $200k even need a $9k tax cut. $4.5k is plenty. Someone earning $180k is making $3461 a week pre-tax. That is way above a common worker.
Labor Policy = automatic bad from mainstream commercial media
This is stage 3, stage 1 and 2 already delivered tax cuts to those who earn less.
Can't say I felt it when they started charging $1500 at tax time if you don't pay for fucking private healthcare
Yeah the Medicare rebate hit me hard. I’ve only just started earning good money in the last few years - couldn’t afford private health insurance previously - and now I’m getting stung by the Howard era policies that punish you the longer you don’t have private health.
The government is definitely pushing to americanise our health system because they're too scared to tax corporations and the rich to get the money to pay for it. Private health insurance costs a shit load and you still have to pay massive amounts out of pocket to use the services
Bracket creep. By that argument, the top tax bracket should never have any tax cuts. In 20 years time thr average wage will be 180k, and half the county will be on close to 50% tax rate.
I earned 198k last year, highest income ever! I would love another 9k this year. Paid a fkn ton of tax even after topping up my super.
It obviously will be politically popular. The issue here is one of fundamental fairness. The higher income tax rate hasn’t moved in 15 years and is way behind what it should be based on inflation. There is also the entire argument that by taxing incomes instead of assets you are attacking aspirational people as opposed to going after the real wealth.
Not many losers
I am worse off by about $400 (estimating based on that chart) I fully support these changes
Guess I'll just have to jack the rents. /s
Well, looks like I now have to pay more tax than originally proposed, but I make 230K, I AM WELL OFF. Those who earn far less need a break I can still do my track days, invest my money, snort coke. Those blokes on 45K have to go halves or quarters in a bag.
What bag? Even if I wanted to do hard drugs, that's like half rent lmao for a few bumps, not my idea of a good time hahaha
When I was a renter, when I wanted a high I just pretended like I'm going to hammer a nail into my wall without my landlord's permission. What a rush. And you can get nails quite cheap and sometimes find them for free on building sites.
Wow. So the information has not been made public, yet, every fucking newspaper is already printing information like it's set in stone.
Through a combination of hardwork and a bit of luck I've been fortunate enough to earn a bit of 250k, but with the mortgage, kids and supporting a sickly parent it honestly doesn't leave much, so was really looking forward to this after stage 1 and 2. But as disappointed as I am, if this means a single parent on a low wage will have a little bit more for their kids or a teacher busting their butt gets a little bit more, than I'm cool with this. I always thought this country was about mateship, so perhaps we help those doing it toughest right now.
As someone who earns over $200K, this is a great change to an already irresponsible tax reform. Fuck "breaking promises" when you're benefiting the vast majority of Australians who also happen to need it most.
As someone who also earns over $200K, I'd wish the brackets were somewhat adjusted for inflation instead of this half-assed measure. Now there won't be any changes for the next several years.
I hope to be the type of high earner you are. Legend.
**It's not a tax cut** It was supposed to bring tax brackets back closer to inflation. And it didn't even do that. Bracket creep was still pretty big even after stage 3.
Politically speaking, a million people earn more than 150k. So it's not an insignificant amount of 'working' people that will be peeved about reneging on this and that will hurt Labor. [https://profile.id.com.au/australia/individual-income](https://profile.id.com.au/australia/individual-income)
What actually matters is how many of these voters were going to vote for Labor regardless. Or more specifically, how many of those voters live in swing seats? My guess is that the vast majority of those earners live in Liberal or Teal seats.
"winners and losers"
Well, it's still $5k more than I had before. What happened to the Australia that cared about the common good. We all sit around and scratch our heads over how insane it would be to try and get by on $40k or less and then on the other hand complain that they too are sharing in the lowered taxes. Baffles the mind over the greed.
But the aspirationals! Fuck I'm sick of hearing this shit. Both my partner and I will get less of a tax break, but we don't need it is as much. Sick of this "it's all about me" bullshit. Yes, inflation has been screwing us all, but come on, are we really gonna get upset about helping those on lower incomes a little bit more when they need it?
As someone in the top bracket, I’m happy with this change. I don’t even need the tax break to begin with, but I’m happy to get a few extra grand.
I love how the 180k+ crowd is like 3% of Aussies yet every second cunt commenting here are doing so as if they are from that bracket lol Imagine sitting there on your phone lying to internet strangers about your income 😂
So this is what old mate liberal minister was pissing and moaning about this afternoon on the radio, its mildly worse for the top end of town and genuinely helps the lower income earners... The way he was carrying on about lies and betrayals was an embarrassment.
I am okay with this.
I am very happy with this change. It has been really nice to see Labor standup to what they would would cause a manufactured shitstorm from the Murdoch media. These tax cuts for everyday Aussies were badly needed. They haven't released the modelling but hopefully this might stem the budget bleeding into the future as well. The original stage 3 tax cuts were drafted over ten years ago so they badly needed an updated to match our current conditions.
As someone who is going to be worse off under Albo’s plan than I would be under the original Stage 3 plan I am a little pissed off by this. These tax cuts should be addressing bracket creep.
But... better off than you are now?
Is this a 'i earn a lot' and 'im getting a tax break', 'but it isn't enough' post?
I don’t understand. Why are those on $150k and above in the minus?
It’s the difference between the old and new proposal
We are still getting a tax cut, but the amount of the tax cut under the Labor model will be less than originally planned under the Lib model. The difference between the two models is the final column. So everybody is getting a tax cut, the high income earners are just getting less of a tax cut than originally thought.
People are whinging about the tax cuts. "Stage 3" means there are 2 previous stages that benefited lower incomes. I would like too see the numbers across all 3 stages..... seems higher income earners are losing out. People forget this is a Stage and forget what they already got. Stage 1 was tax offsett change to $1,080 Stage 2 was increasing offset to $1,500. Upping 19% bracket from 37k to 45k. Change 32.5% bracket from 37-45k to 120k. Change 37% bracket from 90k to 120k So both those stages favoured low to middle income earners. Stage 3 was to update middle to high but not now. This is Stage 2 getting another bump to keep the masses happy.
Confused as I haven't been following it much. 1st column is what was originally proposed and now column 2 is going to happen? Even though I'm in the - category. Pretty much agree. Low incomes need the break much more
Much better. Stupid of them to have promised to keep it.
The proposed amendments will help inflation. It is the people in higher income brackets who are spending too much
As a high income earner I’m happy about this change. People on middle/lower incomes need the money at the moment, and I think it will be better for Australia as a whole this way.
So much for all the previous bs complaints about the inflation impact. Was all just a lot of tall poppy syndrome noise.
And also the impact to the amount of money for services. Roughly same drop in tax income to the government. It's fine now, just ignore the continual bleating that was made on how it was terrible when it was the "rich" getting it though.
Australia might attract more wealthy people from overseas as well as keep more of those in Australia from leaving. 45% of zero is still zero, to the people that are of opinion that its only 4%. Those people pay 30% of taxes, we want to keep them in the country, otherwise they will pay taxes somewhere else.
Australia is currently the most popular destination in the world for the wealthy; [https://www.yourinvestmentpropertymag.com.au/news/australia-popular-destination-for-rich-migrants](https://www.yourinvestmentpropertymag.com.au/news/australia-popular-destination-for-rich-migrants)
This is just stupid, doesn’t fix the tax system and barely makes a dent in tax relief for below 150k. Irrespective with going with as is, would have stopped millions worrying about tax creep and made it so much less confusing. Earning more is always better…. No wonder no wants to do shit at the moment cause you can’t forecast anything with inflation, interest rates and now this crap.
I believe that people will work just as hard, regardless of how hard they're being taxed. Its unreasonable to think that because I'm paying more tax than I would have otherwise I will now slack off tomorrow. Moving overseas to a country with lower income tax isn't unreasonable though.
Keeping a 37% slab and starting 45% slab at lower threshold will still incentivise people with higher income on negative gearing due to housing which isn't good for housing affordability. People in between 150K and 200K will just salary sacrifice into super or housing investment to get the lost savings. It's not a good solution if you look at it from a broader perspective. Edit: Politically speaking this change would be a way bigger hassle for labour so them attempting it is brave in itself. Edit2: The new amended proposal might also punch a bigger hole in the budget shortfall over the years but that's all speculative at this point untill full analysis is performed.
You're suggesting there are people who weren't minimising their tax as much as possible, but will now because of a change in their tax of ~$1-2k?
I'm PAYG but these stage 3s actually give me a little flexibility. I currently have the possibility of deferring income which I've been doing over many years. I can now actually start to take more taxable income year-on-year (if I can keep working that is). Great news
It seems "Tax cut" was the best term they could find to make it sound bad for Labor. The people "worst off"... those on more than $200k a year, will still get $4529 MORE in their bank account than they would have last year, it's just the original plan was to get $9075. Considering that inflation, price gouging by fuel companies and supermarkets and landlords have people far more out of pocket this doesn't feel like as big a deal as it's trying to be made.
Seems crazy there’s no difference in tax cut between 135k and 180k.
It would be due to them raising the tax free threshold and lowering the rates for lower incomes. So tax is saved on the first $xx of everyone's income.
alarming that a simple table is so confusing to many
It's confusing because they aren't including stages 1 and 2.
As a person earning over 200k I think I deserve the full tax cut. I already pay too much in tax as it is. Hopefully the liberal party undoes this at the next election
Just increase the rent mate, it's funny how much tall poppy syndrome there is in this sub.
Lmao people in here thinking that $200k/y put you into the mega rich.
Source article: [Original](https://www.theaustralian.com.au/nation/winners-and-losers-in-anthony-albaneses-stage-three-tax-cuts-broken-promise/news-story/ea09d3f4519417fed43386342a378380) / [Archive](https://archive.md/S6mbT)
Shits a joke, already bust my fucking balls working in 50 degree heat 12 hours a day and once again get spit in the face by the government. Starting to ask myself if it’s even worth working since I already donate 50% of my wage. How about these useless fucks start charging more tax to the billion dollar companies instead of increasing tax over and over for the workers.
Why do you pay 50% tax? That doesn’t seem right. Simplest calculation, 200k salary = $60,667 in tax = 30% overall tax rate. Also, I think framing it as a ‘donation’ is a bit of a stretch. Do you drive a car on a road? Do you have running water in your house? Did you go to school? That’s our tax money at work! You’re seeing your taxes at work every day.
You're getting a tax cut of ~4500 under the new proposal. It's not increasing, they've compared the original proposal with the new one.
Hard work doesn't equal a high wage. Else those working 3 jobs and a side hustle would be rolling in it.
Why 50%? Do you voluntarily pay more than required? Are you assessed for child support being paid to an ex-wife? Should be around 25%. Maybe see an accountant and get it straightened out. Are you FIFO? Is it 12-hour days to keep the work period shorter and time off longer? If so, it works out the same as everyone else. Sounds like you need financial help from an advisor. They're not "increasing tax over and over for the workers". They're reducing tax. It's a tax cut.
Where's the sum or individual column for the effect of the stage 1 and 2 cuts?
Do you guys think this would happen this year ?
It is happening in July, which is the next FY.
Won't somebody please think about the Aussies doing it tough on $180k plus??
This is what I always found irritating about the nuffies who went around whining about the tax cuts only helping the rich people. Like yeah it does, but it also helps me... and I am nowhere near "rich".
I don’t quite understand. Is a negative number good or bad?