AAP General News (Australia)
02-21-2004
Fed: Bracket creep slugging families - Labor
CANBERRA, Feb 21 AAP - Families and low income earners were being slugged by a tax
sting that had earned the government $3.8 billion since the introduction of the GST, research
showed today.
Research published in The Weekend Australian newspaper showed that low and middle income
earners were the hardest hit by bracket creep - when inflation pushes people into a higher
tax bracket.
The research found that inflation had snatched back the value of the last two tax cuts
for 1.4 million people taking home less than $39,000 a year.
Those …
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