Tax relief, rates cut set to boost economy

In a welcome boost for consumer confidence, Australians are set for an interest rates cut and extra tax relief.

"With the extra tax cuts coming for people earning under $125,000 a year, and even though there is some argy-bargy about when the law will go through, the government and the Tax Office have confirmed that that can actually happen." "A lower cash rate would support employment growth and bring forward the time when inflation is consistent with the target," Dr Lowe said in a speech to the Economic Society of Australia in Brisbane."Given this assessment, at our meeting in two weeks' time, we will consider the case for lower interest rates."

“The legislation needs to be passed and the legislation will be our first priority of business once the parliament resumes,” Treasurer Josh Frydenberg told 9News.

Just superficial. This doesn’t help rectify the problems in the economy. We’ll still see cost of living increasing exponentially combined with the issue of wage stagnation.

Yay now we can pay our high debts off because of this government

wow - I'll start test-driving Italian sports cars

JUST HOW MANY EVERY DAY WORKERS EARN THAT MUCH IN A BLOODY YEAR‼️

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It's not just individuals counting on a tax cut, the Reserve Bank is tooTax cuts are not just a relief for households, but also for a Reserve Bank rapidly running out of ammunition to boost a sagging economy, writes Michael Janda. Why wasn’t the public informed of this before the election? This delay is caused by the ballot count so the abc should stick it's head where it belongs.
Source: abcnews - 🏆 5. / 83 Read more »