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Treasurer Josh Frydenberg faces a ticking tax time bomb – NEWS.com.au

Treasurer Josh Frydenberg faces a ticking tax time bomb

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Treasurer Josh Frydenberg faces a ticking tax time bomb in next weeks budget because one-off tax relief worth $1080 to be offered to low and middle income earners is temporary and tax cuts for the rich are permanent.The Morrison Government is expected to extend the low and middle income tax offset that applies to workers earning less than $126,000 at a cost of $7 billion in Tuesday’s budget.
The offset is refunded when workers lodge their tax returns which means that the money will flow for millions…

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