Australia's progressive tax system fights "bracket creep" and simplification challenges due to inflation and tax cuts.
Australia's progressive tax system increases tax rates with income, ensuring higher earners contribute more towards public services. However, inflation can lead to "bracket creep," where people pay higher tax rates without improved purchasing power. Recent tax cuts aim to prevent this and simplify the tax system, but the system's complexity and fairness remain challenges.
July 11, 2024
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