The Morrison government is looking at ways to deliver tax relief to middle income earners as a much-needed boost to the economy after the nation suffered its biggest one-month fall in jobs in more than three years.Australian Bureau of Statistics reported total employment fell by 19,000 in October
The total number of people looking for work lifted by 17,100. There are now 726,000 people looking for work, the largest number since March 2017.The under-utilisation rate, which combines unemployment with the percentage of people who want more hours, is at 13.8 per cent and starting to trend upwards.
There are now 208,500 people out of work across the state, the worst result since February last year. The Treasurer has to include extra spending for the drought and to aged care in the budget update, but Mr Frydenberg said the government was open minded on tax relief.Senior members of the government have been canvassing private sector opinions on the overall strength of the economy and how it may benefit from extra tax relief.
swrighteconomy MattWadeSMH Get rid of those hidden costs and taxes imposed by Local and State governments to start with.
swrighteconomy MattWadeSMH But there’s growth in the stock market? The RBA thinks this will lead to growth everywhere else.....
swrighteconomy MattWadeSMH Doing the same thing over and over and expecting different results is ....
swrighteconomy MattWadeSMH And who benefits most form 'tax relief'? Those who pay the most tax? The richest?
swrighteconomy MattWadeSMH But there’s in the stock market? The RBA thinks this will lead to growth everywhere else.....
swrighteconomy MattWadeSMH Because the last lot of tax cuts were so effective at raising household spending...maybe think about raising the income of folk who have a high marginal propensity to consume rather than save. Raising the rate of New Start comes to mind.
swrighteconomy MattWadeSMH the tax system needs a major overhaul