With many of our electorates having a high proportion of middle and low-income earners, the Nationals team have fought hard to make sure our constituents receive the relief they deserve with the Government’s new tax relief to encourage and reward working Australians.
The 2018 Budget will reward working Australians with:
- A tax cut of up to $200 for those whose taxable income is less than $37,000,
- A tax cut of up to $530 for those whose taxable income is between $37,000 and $48,000; and
- A $530 tax cut for all taxpayers whose taxable income is between $48,000 and $90,000.
These tax relief policies will mean low and middle-income earners will be better off with more hard-earned money back in their pocket, with over 4.4 million people set to receive up to $530 in extra cash.
As firm believers in giving a hand up and not a handout – to avoid a welfare dependent society – the Nationals as part of the Federal Government have lifted tax bracket thresholds in the 2018 Budget to make sure workers are not financially penalised for working overtime, weekends or extra shifts.
Since elected, this Government has created nearly one million jobs for Australians and has reduced the number of people reliant of welfare to just 15.1 per cent – the lowest in 25 years – giving Australians independence and sense of responsibility.
As well as this, exit fees for superannuation accounts have been canned, allowing people to manage their saving as they see fit and the Pension Loans Scheme has been opened to all older Australians.
The Government will further back the choices of pensioners who choose to work. Improving the Pension Work Bonus, those who seek extra income can earn another $1,300 without seeing their pension reduced. For employers who choose to take on pensioners and support their skills transition will receive wage subsidies of up to $10,000 to help combat age discrimination in the workforce.
Another win for regional families will be the changes to the Parental Income Test which will increase the income bracket for those applying for Youth Allowance. That means more country kids can access the scheme and carry out their tertiary education away from home.