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The Low and Middle Income Tax Offset has been extended yet again. It delivers help neither when nor where it's needed

The Low and Middle Income Tax Offset (known as the LMITO or “lamington”) has been given yet another new lease of life.
What started in 2018 as a stop-gap until broader tax cuts were introduced, was extended because of COVID after the tax cuts were introduced in the 2020 budget and has now been extended again in 2021 to assist with the COVID recovery.
Which is odd, because, being a delayed payment (it is only paid out as tax refunds after the end of each financial year), it offers anything but real-time support.
And despite its name, it isn’t offered to Australians on very low incomes. ....

Richard Thaler , Steven Hamilton , Josh Frydenberg , National Centre For , Middle Income Tax Offset , Low Income Tax Offset , Commonwealth Budget Paper , National Centre , Economic Modelling , Income Tax , Budget 2021 , ரிச்சர்ட் தாலர் , ஸ்டீவன் ஹாமில்டன் , தேசிய மையம் க்கு , நடுத்தர வருமானம் வரி ஆஃப்செட் , குறைந்த வருமானம் வரி ஆஃப்செட் , தேசிய மையம் , பொருளாதார மாடலிங் , வருமானம் வரி ,

Aussies who will be $2160 richer

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by Samantha Maiden

Treasurer Josh Frydenberg is set to extend the tax rebate known as The Lamington in Tuesday s Budget, delivering a tax cut worth up to $2160 for couples.
The temporary tax relief was due to be phased out this year but with an election looming the Morrison Government will extend it at a cost of $7 billion.
Known as the Low and Middle Income Tax Offset (LMITO), or colloquially as The Lamington , the offset is payable when you lodge your tax return.
In Tuesday s Budget the Treasurer will confirm it s been extended for another year - leaving the painful decision on when to cut it until after the federal election. ....

Tom Crowley , Josh Frydenberg , Grattan Institute , Treasurer Josh Frydenberg , Morrison Government , Middle Income Tax Offset , Low Income Tax Offset , May Budget , டோம் காகம் , க்ர்யாடெந் நிறுவனம் , மோரிசன் அரசு , நடுத்தர வருமானம் வரி ஆஃப்செட் , குறைந்த வருமானம் வரி ஆஃப்செட் , இருக்கலாம் பட்ஜெட் ,

Australia's tax system favours men over women so it's time to make the budget more female-friendly

analysis
Australia s tax system favours men over women so it s time to make the budget more female-friendly
Posted 2
updated 29
The tax system favours men over women, partly because they are in higher-paying jobs.
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Federal politicians on both sides have delivered tax policy changes, including personal income tax cuts and superannuation tax concessions, that aim to alleviate pressure on working Australians.
These policies are not inherently discriminatory, but some experts have noted they are inadvertently leading to inequality, not only between the rich and poor, but between men and women.
Under our current progressive tax system, the average tax rate, or the total amount of tax paid as a percentage of income, increases as the taxpayer s income increases. ....

Rebecca Cassells , Danielle Wood , Matt Grudnoff , Alan Duncan , Cassandra Goldie , Grattan Institute , Australia Institute , Australian Council For Social Services , Bankwest Curtin Economics Centre , Middle Income Tax Offset , Low Income Tax Offset , Australian Council , Social Services , ரிபேக்க கேசல்கள் , டேனியல் மரம் , ஆலன் டங்கன் , காஸ்ஸான்ற கோல்டி , க்ர்யாடெந் நிறுவனம் , ஆஸ்திரேலியா நிறுவனம் , ஆஸ்திரேலிய சபை க்கு சமூக சேவைகள் , வங்கி மேற்கு கர்டின் பொருளாதாரம் மையம் , நடுத்தர வருமானம் வரி ஆஃப்செட் , குறைந்த வருமானம் வரி ஆஃப்செட் , ஆஸ்திரேலிய சபை , சமூக சேவைகள் ,