NSW Premier Chris Minns has strongly criticised the federal government for its lack of action on bracket creep, arguing that the current 47 per cent top marginal tax rate effectively forces high-earning employees to work almost half the week for the government.
Support for Tax Overhaul
Mr Minns expressed support for Angus Taylor's initiative to overhaul tax brackets, stating that families are being unfairly affected as salary increases push workers into higher tax bands. He highlighted that state wage agreements for essential workers such as nurses, paramedics, and teachers are being eroded by high taxes.
Call for Urgent Action
'Whether it's in this budget or in the future, we need to ensure we are doing everything possible to return more money to working Australians,' Mr Minns said. He elaborated in parliament, 'The top marginal rate of 47 per cent means you work Monday, Tuesday, and half of Wednesday for yourself, and then Wednesday, Thursday, and Friday for the government.'
The Premier emphasised the urgency of addressing personal income taxes, noting that many working families are currently being adversely affected. 'In a general sense, whether now or in the future, we must take urgent action on personal income taxes because many working families are getting stung,' he concluded.
