Where has all the revenue gone? To tax cuts for the rich!

The underestimated revenue in the years from 2003-04 to 2008-09 is now running at $83.4 billion. Around half of that has been returned as tax cuts which disproportionately help people earning double or more than average weekly earnings (AWE).

The research reveals that as a result of the past and proposed income tax cuts a low-income earner will be just $26.67 per week better off, while someone earning twice average weekly earnings will be $209.30 a week better off. At five times AWE, the amount is $367.58 per week, and at 10 times AWE the tax cut is worth $486.23 per week.

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