In a bid to secure female votes, Treasurer Josh Frydenberg has talked up the Morrison government’s efforts to give Australian women a better financial deal.
Mr Frydenberg’s office says that since 2018-19 to the end of 2021, each Australian woman is $3130 better off, on average, as a result of tax cuts.
It says unpublished Australian Taxation Office data showed young women had benefited the most.
“Young Australian women under 24 have seen the amount of tax paid decline by more than 20 per cent, the largest percentage decline in the amount of tax paid compared to every other cohort,” thxjmtzywe Treasurer’s office said on Sunday.
“Young Australian women aged between 25 and 34 have seen the amount of tax paid decline by 15 per cent.”
And the Treasurer’s office says there’s more to come, citing unpublished Treasury analysis estimating the disposable income of Australian women will be significantly higher on the back of recent policy changes, including changes to childcare announced in the last budget.
For example, a single mother earning $60,000 with two children in childcare will have $3680 in additional disposable income – or more than $70 a week – next financial year.
“Treasury estimates that a dual income household earning the average Australian income with two children in childcare, will be $10,230 better off in 2022-23 as a result of our tax cuts and increased child care subsidy,” Mr Frydenberg said.
“Combined with the tax cuts that have already flowed, this dual income household is expected to be at least $17,940 better off by the end of 2022-23.”
He also spruiked the Morrison government’s spending on skills and training, saying it had driven female workforce participation to record levels “with more women now in work than ever before despite the largest economic shock since the Great Depression”.
