Member for Wannon Dan Tehan is confident about 62,000 low and middle-income earners in his electorate would start to receive immediate tax relief from this week.

Mr Tehan said the Federal Government had delivered on its promise to build a better tax system and provide more tax relief, and that was good news for Wannon and other regional electorates.

“This will ensure low and middle-income earners in Wannon will keep more of what they earn and have more money in their pockets,” he said.

“This will ultimately boost household consumption, which will be good for the overall economy. Those earning up to $126,000 in Wannon will receive up to $1080, and dual-income couples up to $2160.”

The tax package provides a further $158-billion in tax relief, building on the already legislated Personal Income Tax Plan the government announced in the 2018-19 Budget.

Mr Tehan said the government had also locked in the benefits of low and middle-income tax relief by increasing the top threshold of the 19-cents-in-the-dollar tax bracket from $41,000 to $45,000 and by increasing the low-income tax offset from $645 to $700 in 2022-23.

“In combination with the legislated removal of the 37 percent tax bracket in 2024-25, the government is delivering structural reform to the tax system by reducing the 32.5 cents in the dollar tax rate to 30 cents in the dollar,” he said.

“Together, these tax-relief measures will create a flatter and better tax system that will improve incentives for those working hard in Wannon. It will also ensure that 94 percent of Australians will face a marginal tax rate no higher than 30 cents in the dollar in 2024-25.

“Australians voiced their loud-and-clear support for our comprehensive tax package at the election. 

“They supported a tax system that rewards aspiration and encourages effort, and we have delivered it. 

“Lower taxes are part of our plan for a stronger economy.”

The entire July 10, 2019 edition of The Weekly Advertiser is available online. READ IT HERE!

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