The Liberals have pledged to deliver a cost-of-living tax offset to more than 64,710 local taxpayers if elected at the May 3 federal election.
Liberal candidate for Indi James Trenery said 93 per cent of taxpayers in Indi would be better off under this Liberal policy.
“The policy will see eligible Australians earning up to $144,000 receive up to $1200 in tax relief when they lodge their tax return for the upcoming financial year,” Mr Trenery said.
“This targeted cost-of-living tax offset would provide vital support for families while we address the underlying economic problems created by Labor, including weak growth and spiralling energy prices.
“The tax offset will apply to 93 per cent of taxpayers in Indi and deliver tax relief of up to $1200.
“This will see a projection of $64,902,810 stay in the pockets of locals, to support them through this cost-of-living crisis.
“The cost-of-living tax offset is a part of our plan to reduce your living costs, including halving the fuel tax, saving you 25 cents on every litre — or around $1500 over 12 months, reducing the cost of medicines to $25, delivering lower gas and electricity bills and lowering inflation.”
Key details of the Coalition’s proposed cost-of-living tax offset
- Available to Australian residents for tax purposes earning an annual taxable income of up to $144,000 with the full offset available to those earning between $48,000 and $104,000.
- Around 85 per cent of taxpayers across Australia will benefit from the offset.
- Roughly half of all taxpayers will receive the maximum offset of $1200.
- The cost of the one-off offset will be $10 billion.
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