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Singles on low and middle incomes will get tax cuts to help them with the expected increase in living costs. Some low-income households might not receive enough assistance through tax cuts or Government payments to offset their average expected cost impact under a carbon price. These households will be able to apply for an annual, tax-exempt Low Income Supplement of $300.
The Government will introduce legislation to ensure that those Australians that need help the most, particularly pensioners and low and middle income households, will get assistance to help manage increases in the cost of living from the carbon price. On average, households will see cost increases of $9.90 per week, while the average assistance will be $10.10 per week.
From 1 July 2012, all taxpayers with incomes of up to $80,000 will get a tax cut, with most receiving at least $300 per year. This means around 60 per cent of taxpayers will get a tax cut of at least $300. No one will pay more income tax as a result of the carbon price package.
Treasury estimates for the average Australian household electricity will rise by $3.30 per week, gas by $1.50, and food by 80 cents under the carbon price.
Originally posted by stanguilles7
So, if you cut back your use of electricity, etc, do you still get to keep the $300 rebate? That could end up being a net gain for a lot of people, no?
Originally posted by stanguilles7
So, if you cut back your use of electricity, etc, do you still get to keep the $300 rebate? That could end up being a net gain for a lot of people, no?
Originally posted by aaron2209
If those costs are all per week, then that equals $291.20 per year. If I'm getting a tax cut of $300 per year, I'm actually ahead.
The world will not end tomorrow because of the carbon tax.
Originally posted by seenavv
Originally posted by aaron2209
If those costs are all per week, then that equals $291.20 per year. If I'm getting a tax cut of $300 per year, I'm actually ahead.
The world will not end tomorrow because of the carbon tax.
It's all incremental so no one revolts... imagine if 10 years ago governments told the masses they are going to tax you for exhaling and for what plants breath
Originally posted by CB328
$5 a week is the end of the world?? What the hell?
Originally posted by seenavv
Originally posted by stanguilles7
So, if you cut back your use of electricity, etc, do you still get to keep the $300 rebate? That could end up being a net gain for a lot of people, no?
im pretty sure most people use just the amount of electricity they need as they already pay for it... so cutting back is highly unlikely.
This is really sad.. these #ing agenda 21 scum are getting their way it appears... my apartment building was just installed with smart meters and im in BC Canada
Originally posted by aaron2209
If those costs are all per week, then that equals $291.20 per year. If I'm getting a tax cut of $300 per year, I'm actually ahead.
The world will not end tomorrow because of the carbon tax.
Originally posted by deessell
reply to post by aaron2209
Aaron, it may begin with $5 per week but taxes have an unfortunate history of INCREASING.
Originally posted by aaron2209
Originally posted by stanguilles7
So, if you cut back your use of electricity, etc, do you still get to keep the $300 rebate? That could end up being a net gain for a lot of people, no?
Indeed but fear mongering is fun