The Low and Middle Income Tax Offset has been extended yet again. It delivers help neither when nor where it’s needed

Research output: Contribution to Newspaper/Magazine/BulletinArticle

Abstract

The Low and Middle Income Tax Offset (known as the LMITO or “lamington”) has been given yet another new lease of life.
What started in 2018 as a stop-gap until broader tax cuts were introduced, was extended because of COVID after the tax cuts were introduced in the 2020 budget and has now been extended again in 2021 to assist with the COVID recovery.
Which is odd, because, being a delayed payment (it is only paid out as tax refunds after the end of each financial year), it offers anything but real-time support.
And despite its name, it isn’t offered to Australians on very low incomes.
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Original languageEnglish
Pages1-4
Number of pages4
Specialist publicationThe Conversation
PublisherThe Conversation Paperpress
Publication statusPublished - 14 May 2021

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