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RESULTS IN YOUR BUSINESS, FINANCIAL & TAXATION AFFAIRS
Who doesn’t like a tax cut when they personally benefit from it? In a recent speech, the Treasurer said that personal tax cuts were required to prevent ‘bracket creep’ – that’s jargon for what happens when the tax rate thresholds don’t keep pace with inflation and more people are pushed into a higher tax bracket (they get taxed more and potentially lose access to benefits but are economically standing still).
The last change to the tax brackets was in 2012 to increase the tax-free threshold. The...