In light of Australia’s impending elections, and with a significant budget surplus, both the ruling Conservative and opposition Labour parties have pledged to cut the country’s tax scales from four to three. New migrants to Australia will benefit from what economic experts are referring to as “reduced earning disincentives”.

 

 

 

The new cuts mean that professionals will be able to pocket extra money every month without running the risk of losing it through taxation. The Western Research institute commented that people are now in a position to earn a little extra “without worrying about losing forty percent of it”.

 

Although the tax pledges of both parties are remarkably similar, Labour may well have the edge in the eyes of workers with children, as it has promised a AU$ 2.3 billion education rebate programme, and has increased the available chilled care rebate from thirty to fifty percent.