Ten million Australians incomes underneath $126,000 will take dwelling much less pay from subsequent monetary 12 months

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Ten million Aussies are about to be WORSE off: Big tax hit coming for anybody incomes lower than $126,000 as scheme involves an finish

Ten million Australians may see their take-home pay packets slashed if the federal authorities’s prolonged tax offcut ends.

The authorities prolonged the low and center earnings tax offset for Australians incomes $126,000 by 12 months for 2020-21 within the wake of the coronavirus pandemic.

Around 3.4 million Australians will likely be $1080 a 12 months worse off whereas one other seven million will see their take-home pay lowered, in response to Bankwest Curtin Economics Research Centre evaluation. 

Federal treasurer Josh Frydenberg was tight-lipped on whether or not the tax offset will likely be prolonged.

More to return. 

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