In The News

Cuts to deeming rates a cash boost for more than 1 million Australians

Friday, 19 July 2019

More than 4,640 people in Mitchell will benefit from a multi-million dollar boost across the next four years following the Morrison Government’s decision to cut deeming rates.

Federal Member for Mitchell, the Hon Alex Hawke MP said the decision will make a difference to the lives of people in Mitchell.

The lower deeming rate will decrease from 1.75 per cent to 1.0 per cent for financial investments up to $51,800 for single pensioners and $86,200 for pensioner couples. The upper deeming rate will be cut from 3.25 per cent to 3.0 per cent for balances over these amounts.

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Delivered: Tax Relief for Mitchell

Friday, 05 July 2019

Federal Member for Mitchell, the Hon Alex Hawke MP said over 60,000 low and middle income earners in Mitchell will start to receive immediate tax relief from next week.

“The Coalition Government has delivered on its promise to build a better tax system and provide more tax relief in Mitchell, Alex Hawke said.

“This will ensure low and middle income earners in Mitchell will keep more of what they earn and have more money in their pockets. This will ultimately boost household consumption, which will be good for the overall economy.

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