Bob Day (SA, Family First Party) Share this | Hansard source

My question is to the Minister for Finance, Senator Cormann. Left unchecked, bracket creep will soon result in 1.8 million full-time workers being taxed at the second-highest tax rate of 37c in the dollar. Over the next decade, single-income families will pay 60 per cent more in income tax. The minister has said numerous times that the government will provide tax cuts to offset the impact of bracket creep. Without tax cuts, NATSEM—that is, the National Centre for Social and Economic Modelling—estimates that the government will receive an additional $25 billion in tax over the forward estimates due to bracket creep. The National Commission of Audit report assumed bracket creep tax revenue would be returned through tax cuts. What tax cuts will there be for Australian families and when will they be announced?