The Coalition’s tax cut looks like a desperate act, I’m not sure why they think that it’ll have any more impact than it did during the budget. What I’d like to see is a commitment to index the tax brackets along with the CPI so that the impact of bracket creep is reduced, along with an increase in the tax free threshold to especially help low income earners.
Changing the tax rates is just fiddling at the margins, what we need is actual structural change in the tax system to remove some of the inefficiencies (bribes) that are built into it. What is frustrating is that there are groups out there who are making submissions on this stuff full time and they are constantly being ignored by a Government who doesn’t have the balls to explain complex policy to the populace.
The ALP has a big opportunity here to show the $34B tax cut up for the crap it is with a real tax policy. What’s better is that they have so much money to throw around to achieve this without a Government scare campaign, thirty billion dollars could buy a lot of tax reform.