Research commissioned by Senator Paul Scarr indicates that approximately 163,000 Logan residents will be negatively impacted by the Labor Government’s removal of the Low and Middle Income Tax Offset in next month’s budget.
Senator Scarr said: “As soon as the Labor Treasurer Jim Chalmers announced the abolition of the Low and Middle Income Tax Offset, I commissioned research to see what impact this would have on Logan residents. The results are deeply concerning for our Logan community.”
“Based on census and ATO statistics, tens of thousands of Logan residents are going to pay between $600 and $1,500 more tax this year. At a time when cost of living pressures are going through the roof this is a devastating blow to Logan households.
“The Labor Government’s decision to discontinue the Low and Medium Income Tax Offset will impact everyone earning between $20,800 and $120,000 a year. This includes approximately 61,800 residents earning less than $41,600 a year. Logan families cannot afford this Labor tax grab.
“I know from talking to local residents and small businesses that the Logan community is feeling the pinch. There have been nine increases of interest rates under the Labor government. Logan residents are paying thousands of dollars a year extra on mortgage repayments.
“Rents have gone through the roof. Instead of electricity prices going down by $275 per household as promised 97 times by Labor prior to the election, electricity prices are going up. It is not good enough. Logan residents deserve better at the time of a cost of living crunch.”