Put the brakes on bracket creep
18 December 2017
Following the Treasurer’s release of the Mid-Year Economic & Fiscal Outlook (MYEFO) today, BDO Tax Partner Mark Molesworth commented:
“The Treasurer is on the highwire and must balance the Government’s fiscal responsibilities with its desire to defend the personal tax scales against bracket creep.”
“Other reforms, designed to make the system as a whole more efficient at collecting revenue and less of a drag on business, should be pursued. Such reforms have been extensively debated and outlined as part of the Henry review and the Re:Think process. BDO’s pre-budget submission for next year encourages the Government to look at these ideas and restart the tax reform process in Australia.”
View the full MYEFO statement.