The Albanese government delivered a second consecutive budget surplus, as illustrated below by Justin Fabo at Antipodean Macro: The underlying cash budget balance recorded a surplus of $15.8 billion (0.6% of GDP) in 2023-24, which was larger than forecast in the May Budget. Massive personal tax receipts from the rapidly expanding labour market (read: immigration)
The post Australia’s tax system is unbalanced and unsustainable appeared first on MacroBusiness.