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RESULTS IN YOUR BUSINESS, FINANCIAL & TAXATION AFFAIRS
Why a tax on high income earners will disadvantage many with salary packaging agreements.
In last year’s Budget, the Government introduced a 2% ‘debt tax’ on high income earners - the temporary budget repair levy. Unlike many other announced Budget changes, the debt tax bill passed Parliament in record time - 12 sitting days with no amendments.
While the debt tax itself only directly affects those with taxable income above $180,000, there are a number of other tax changes that came in with the d...