Australian tax increase - highest in OECD.

[Bobby]

https://www.abc.net.au/news/2024-04-26/ ... /103769612


Australia's average tax rate increase tops OECD countries
due to bracket creep and end of tax offset


By business reporter Kate Ainsworth
Posted 5h ago


    In short:
Australia's average income tax rate increased by 7.6 per cent in 2023,
the largest out of any developed country in the world.

    Although Australians spent 24.9 per cent of their average wage on income tax, data shows it is below the OECD average of 34.8 per cent.

    What's next? The Stage 3 tax cuts will come into effect from July 1 this year.

Australia recorded the biggest increase to average tax rates in the developed world last financial year due to bracket creep and the end of a tax offset that disproportionately affected low- and middle-income earners.

Data released by the Organisation for Economic Cooperation and Development (OECD) on Thursday showed Australia's average tax rate increased by 7.6 per cent in financial year 2022-23 — the largest out of the 38 countries in the OECD.

The figures, published as part of the OECD's annual Taxing Wages report, showed a single Australian without children earning the average wage paid $24,791 in income tax, equivalent to 24.9 per cent of their gross wage.

The OECD said the 7.6 per cent increase occurred for two reasons: the end of a tax offset, and bracket creep.

[Bobby]

What a rip-off country.

[Black Orchid]

That's what Labor do. Tax and spend.

[Bobby]

That's what Labor do. Tax and spend.

And they borrow more on top of that.
Our Fed Govt.debt is now nearly $1.2 trillion:

https://australiandebtclock.com.au/

[Bobby]

I wonder if the Labor voters here would make posts on this thread
to apologise for voting Labor?

Where was the massive tax increase in the last Labor election promises?
What about the millions of immigrants they brought here?

An election is not a blank cheque is it?