Treasurer Scott Morrison insists a levy on high-income earners was always a temporary measure.
The two per cent impost on people earning more than $180,000 - in a bid to reduce the budget deficit - is due to end in 2017.
"If you were to change that you would actually have to put their taxes up again," Mr Morrison told Sydney's 2GB radio on Monday.
Cabinet Secretary Arthur Sinodinos has indicated the government is leaning towards a company tax rate cut rather than the once-promise personal income tax cuts as part of an overall package.
While Mr Morrison avoided confirming that, he did say the government had to do things that drove investment.
"If we don't drive investment, we can't drive growth and that means we can't drive jobs," he said.
There wasn't a lot of room in the budget and when the government opted against raising the GST rate it meant the opportunity for major changes in income tax were "largely removed".
"You can't pay for something with nothing," Mr Morrison said.
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