Thanks Budget: There’s More Tax-Free Dollars To Be Earned

Students, struggling artists and part-timers there is some good news to come out of the Budget for you my low income-earning friends! It’s a universal public sentiment that paying tax fucking blows. I have “friends” who’ve been driven to tears after setting eyes upon a particularly paltry tax return (i.e. “But I worked so so very hard and they’ve taken my precious dollars for what? Road works and educating jailed criminals? Waaaaah…”), but fortunately there will be less tears spilled over tax in the coming year, because of some major tax cuts to the tune of $47 billion.

The Federal Government is finally changing the system to actually reward hard work, particularly in the lower income bracket, by increasing the Tax-Free Threshold from $6,000 to $18,200 from 2012-2013. That means that people who are balancing limited work hours with other things like study, raising kids, or working as an artist, can now avoid paying tax on a larger salary than ever before, which will hopefully ease the strain on your finances and your tear ducts come the EOFY.

As far as Arts funding goes, Arts Hub reports that the budget is also dedicating $64.1 million across four years to the Arts to help protect the jobs of those employed in creative industries, and $3 million will be directed towards the contemporary music industry to assist with songwriting, stage craft, audience development and Sounds Australia program.

For more information on all the Budget details head to Budget.gov.au.

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