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Progressive in theory, regressive in practice: that's how we tax income from savings

  • Written by The Conversation
Progressive in theory, regressive in practice: that's how we tax income from savingsShutterstock

We’re told Australia has a progressive tax system – the more you earn, the higher the rate.

And that’s certainly the case for earnings from wages. An Australian on A$35,000 sacrifices 21 cents out of each extra dollar they earn whereas an Australian on $90,000 sacrifices 39 cents.

That’s how it’s meant to be...

Read more: Progressive in theory, regressive in practice: that's how we tax income from savings

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