The International Monetary Fund has offered recommendations on how Australia can repair its budget, including a rethink of the legislated stage three tax cuts.
, which come into effect in July 2024 and have been costed at upwards of $250 billion.
Stream more on politics with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends 31 October, 2023 “With the cuts taking effect from 2024-25, there would be time, if needed, to reassess the parameters to appropriately balance costs on the budget and benefits to the economy,” the report said.
Under the stage three tax plan the 37 per cent tax rate will be completely scrapped, with Australians earning between $45,000 and $200,000 moving to the new 30 per cent bracket – which is down from 32 per cent.
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