Please Explain podcast: Low- and middle-income Australians lose in personal tax overhaul

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Millions of low- and middle-income Australians face being $1080 worse off each year unless the government revisits its recent overhaul of the personal tax system.

As it stands, the end of the low- and middle-income tax offset for the 2021-2022 financial year means people earning between $48,000 and $90,000 will lose $20 a week from their take-home income.

Although the government announced in the federal budget that tax cuts planned for mid-2022 would be brought forward as part of its coronavirus response, this move benefits only those earning more than $90,000.

Federal Health Minister Greg Hunt says the only reason Victorian Premier Daniel Andrews could have to keep Victorians in lockdown would be a lack of confidence in his contact-tracing teams.

In this episode, national editor Tory Maguire is joined by senior economics correspondent Shane Wright to dissect the consequences of the government's personal tax overhaul.


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