Tax cuts of up to $4500 a year for high and middle income earners are the surprise announcement in tonight's federal budget. Helped by expected strong economic activity and continued robust budget surpluses, Treasurer Peter Costello has unveiled a raft of measures usually associated with pre-election budgets A pitch for the rich
Invisible Hands & Markets: Australian Budget 2005
Australia's government handed workers A$21.7 billion ($16.8 billion) of tax cuts to bolster an economy growing at its slowest pace since emerging from recession 14 years ago. Budget speech: The federal Budget will focus on growing the economy and getting as many people as possible back into the workforce Welfare To Work; Future Fund; Pension Funds; Interest Rates; Telstra ...
Peter Costello should take an interest in the world poker championships, because his 10th Budget shows he is a card shark in the making.
His tax cuts for all and sundry are built upon some brave hopes that, if proved wrong, could see the entire house of cards fall down. It is a Budget that delivers because it does not have to cut into spending.That is because tax revenues have been so strong for so long that Canberra is literally swimming in cash. For the first time in history, the total tax take from everyday taxpayers broke the $100-billion barrier.
• Costello hoping this Budget's his last We're thrashing the pants off the Americans [Australia Cuts Income Taxes A$21.7 Billion to Bolster Growth ; Costello shows his cards ]
• · Australia's government will create a A$140 billion ($108 billion) investment fund from budget surpluses and the sale of its stake in Telstra Corp. to cover its pension liabilities for politicians, public servants and defense workers Australia to Create A$140 Bln Investment Fund to Cover Pensions; Google on Budget 2005
• · · Costello slashes taxes, revamps welfare ; The APEC leaders summit in Sydney in 2007 will cost $216 million. Tax cuts for all in budget bonanza
• · · · Forbes.com Australia sees underlying cash surplus of 8.9 bln aud in 2005/2006 budget ; Budget fails Australia, Labor claims
• · · · · The Government's Budget had cast aside the environment in favour of Treasurer Peter Costello's political future Political future put first: Brown ; Telstra sale on track for 2006/07 start
• · · · · · PM is the one with the knife; Labor refuses to endorse Budget tax cuts