Australians face $336 billion tax increase by 2030 despite cuts
Australians will face an additional $336 billion in personal income tax by 2030, despite recent tax cuts from the Albanese government. The Parliamentary Budget Office reports a projected surplus for 2034-35, reliant on increased tax collections and cuts to public services. Without substantial spending reforms, future surpluses remain unlikely due to bracket creep in tax rates.
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Published 14 Jul 2026, 04:59 UTC · Updated 14 Jul 2026, 05:00 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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