1 week Ago By Poppy Johnston
ONE-OFF HANDOUTS, BUT AT WHAT COST? Login or signup to continue reading * The federal coalition, led by Peter Dutton, announced tax rebates for more than 10 million tax payers earning up to $144,000 ahead of the official campaign launch in Western Sydney on Sunday * When taxpayers go to lodge their tax return for the upcoming financial year (2026/27), they could be in line for up to $1200 in tax relief * The full offset will be available to those earning between $48,000 and $104,000 * The one-off measure will cost the public purse $10 billion * The plan is reminiscent of the popular low and middle income tax offset policy first introduced in 2018 that lowered taxable incomes so those eligible paid less tax * Pitched to appeal to financially-stretched voters as the "cost of living tax offset", Mr Dutton said it would provide "real help" and was more generous than the "70 cents a day" on offer under Labor's alternative plan * Shadow Treasurer Angus Taylor said the "temporary and targeted" relief was more responsible than Labor's "big spending agenda fuelling inflation and driving up the cost of everything" * The coalition opted not to support Labor's plan, made the centrepiece of the March budget, to reduce taxes by $268 from July 2026 and $536 the following year. * The federal government has acknowledged the tax cuts as modest but permanent unlike the coalition's temporary support * Housing Minister Clare O'Neil said the Liberal's tax plan came at a large cost to the budget for short-term relief and ran counter to the party's claims of fiscal responsibility * "We have one party here that is building Australia's future, tackling the biggest social and economic problems that we face and another that will provide short-term relief just for a year," Ms O'Neil told ABC Insiders on Sunday. * Rich Insight economist Chris Richardson said both of the major parties were leaning on one-off handouts to the public to lower the cost-of-living despite being ineffective at easing inflation.
* "Inflation is caused by too much money chasing too little stuff," Mr Richardson said. "So when politicians give us extra money, that makes the fight against inflation harder and slower than it'd otherwise be." Australian Associated Press Daily Today's top stories curated by our news team.
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