09 May, 2019 Meet The Taxpayers: Comparing Labor and the Coalition’s Tax Platforms
This report shows how different taxpayers would fare under the competing tax policies being taken to the 2019 federal election by Labor and the Coalition.
The very different approaches of the major parties to taxation present voters with the starkest choice on offer for decades. For the first time in a long time, the decision the Australian people make on 18 May will result in markedly different economic outcomes for the country in the decade ahead.
The report models hypothetical income tax scenarios for two families of relatively high-income earners, under the tax measures that will apply in 2024 should the Coalition retain government, compared to those that will apply should Labor win the election and remain in government by 2024.
It also compares the changes in tax paid by an individual earning just above the minimum wage, and one earning $180,000 per annum in 2024 under both scenarios.
The results are striking and point to a very different Australia ten years from now, depending on which party’s policies are implemented over the next five years.
The report concludes that the Coalition’s tax policies are likely to exacerbate income inequality in Australia, while the ALP’s are likely to reduce it.DOWNLOAD FULL REPORT