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  • Taxpayers to share in $37bn tax cuts (Big day DownUnder!!!)

    05/09/2006 3:14:37 AM PDT · by Aussie Dasher · 1 replies · 196+ views
    news.com.au ^ | 9 May 2006 | Shane Wright
    ORDINARY taxpayers will enjoy $37 billion in tax cuts over the next four years but businesses will also benefit as Treasurer Peter Costello seeks to regain control of the tax debate. Tax thresholds will be lifted while the top two marginal tax rates will be sliced in a move Mr Costello said will reward hard work and make the Australian tax system more internationally competitive. Australians have had several years of smaller tax cuts, but at $37 billion – including an initial tax break of more than $6 billion starting from July 1 – tonight's Budget announcements are the biggest...