Good news for low and middle-income earners, with the federal government reportedly considering more tax relief.
A new round of income tax relief understood to be worth billions of dollars, will form the centrepiece of next month’s federal budget.
It would likely see low and middle-income earners receive a $1,000 payout once again.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
The measure was brought in last financial year in an effort to boost the economy during the coronavirus downturn.
New modelling suggested that if that relief was to end early it would affect the economy, as low and middle-income earners tend to spend more.
Extending the $1,000 payout is just one option the federal government is considering, in an effort to keep Aussies spending.
Around 10 million Australians fall within the low to middle-income earner bracket.