Mr Belerhas explained that «those with an income of over $40.000 dollars will receive certain tax cuts». He added that «the budget also favors taxpayers that earn more than $200.000 dollars per year, as they will receive tax cuts up until the year 2024-25».
However the unemployed and those that earn less than $40.000 will not benefit from the government’s Budget. Those without work will not see their benefits rise, while people that earn less than $40.000 will not receive any tax cuts.
The GOC’s treasurer said that the “big loser” is the environment. «Despite the natural disasters, the government will only spend $158 million to address the issue of climate change».
When asked whether the Budget was planned with the upcoming federal election in mind, Mr Belerhas said that the budget is ‘’clearly meant to gather votes for the Morrison government».
The battle over real estate taxes
Mr. Belerhas stated that «the big battle between the government and Labor for the people’s vote will be fought through taxes in the real estate sector».
Both parties have promised exemptions without raising any other taxes. However Labor is planning to make drastic changes in the way real estate is taxed. One of these changes included eliminating Negative Gearing, while another will see the discount individuals get on the capital gains tax, which currently sits at 50% drop to 25%.
«It is a significant difference that could very well determine the outcome of the election» said Mr. Belerhas.
Press Play on the image to hear the podcast in Greek.
