Federal budget 2021: 10 million Aussies to lose $1080 tax cut next year

Federal budget 2021: 10 million Aussies to lose $1080 tax cut next year

Here are the tax cuts that'll affect your tax bracket in the new Government budget. Here are the tax cuts that'll affect your tax bracket in the new Government budget.... Ten million low and middle income earners enjoying a $1080 tax cut in the federal budget could be forced to pay more income tax next year. Asked today if it was likely to be a permanent feature of the budget, the Treasurer provided a clear answer – “no”. “The thing to understand about the tax cuts for lower middle income earners is that they run out after the election,” he said.

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