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READ MOREFederal budget 2018: Tax cap limit ’more politics than economics’
There is a strong case for reversing incentive-sapping effects of income tax "bracket creep", but Treasurer Scott Morrison’s pledge to limit taxes to no more than 23.9 per cent of gross domestic product is mostly a political move, say leading economists.
"Bracket creep is very real, and it’s accounting for a big chunk of the return to surplus – by most estimates it’s worth around 80 per cent of it," said Richard Holden, professor of economics at UNSW.
Read the full article at the Australian Financial Review.
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