The figure compares the tax rates that would that pushes tax rates — and real tax payments — below eventuate following the (original) Stage 3 tax cuts with those of the previous year can only be said to be a tax cut those of a reference year; in this case 2017-18. [...] The to 2017-18, it fails to account for the tax paid as a result of longer bracket creep is left to accumulate, the larger tax bracket creep in the intervening years in which there were cuts must be if they are to provide compensation for past no tax cuts. [...] High income earners have been under-compensated for bracket creep since 2017-18 The next figure presents the net position of taxpayers, context of the bracket creep of the period, it is clear that taking into account tax increases that arise from bracket middle-income earners received the greatest benefit of the creep and the tax cuts received over the three-stage PITP, PITP. [...] Far from ‘$9,000 gifts for society’s wealthiest’, when the third stage of the PITP is placed within the Net compensation for bracket creep since 2017-18 under the original Stage 3 tax cuts Notes: I ncludes the Low Income Tax Offset and the Low and Middle Income Tax Offset in the years it was in place. [...] Stage 3 mark II: More compensation for Indexation of tax thresholds to price middle income earners, less compensation increases will halt bracket creep and make for high income earners the tax system more transparent The current government’s revision of the third stage of The lesson for future tax policy is that if tax thresholds the PITP will lower the range of incomes where over- were indexed to.
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