Anglicare Australia has released Trickle Up, a paper showing that the planned Stage 3 Tax Cuts will go to the highest income earners in the country and leave behind people who need cost of living relief.
The paper finds that under the Stage 3 Tax Cuts:
- People earning over $180,000 will gain $233.65 per fortnight
- People earning over $200,000 will gain $349.04 per fortnight
- This amount is enough to pay for a tank of petrol and a modest selection of groceries, as well as car insurance, mobile phone use, and electricity on a fortnightly basis.
“Instead of helping people cope, these the tax cuts will leave behind people who badly need cost of living relief,” said Anglicare Australia Executive Director Kasy Chambers.
“A person on an average income will receive just $14 a fortnight. Someone on a low income will get no benefit at all.
“At the same time, people on the highest incomes will gain almost $350 per fortnight. We found that amount could buy a tank of petrol and groceries. On top of that, it also covers a fortnight’s worth of car insurance, electricity, and mobile phone use.
“Australians understand that these tax cuts are unfair. That’s why poll after poll shows that people want them scrapped. Even those who are set to benefit the most say they don’t want them.
“There is no excuse for ignoring Australians doing it tough at the same time as spending a quarter of a trillion dollars on tax cuts.
“It’s time to scrap these tax cuts and give Australians in need the cost of living relief they’re crying out for. “This is a clear choice. If the Government can afford to spend a quarter of a trillion dollars on tax cuts for people who don’t want or need them, then it can surely afford to help those who have been hit the hardest by the cost of living crisis.”