How do people plan to use extra money from Stage III tax cuts?
The Economy, Stupid
Usage of Stage III Tax Cuts in Australia
Insights from a survey conducted by ING Bank Australia reveal that customers are anticipating the extra money from Stage III tax cuts to support day-to-day living costs or save, with a focus on saving, paying down mortgage, investing, or spending. Millennials and Gen Z are more inclined to save for travel rather than a home deposit. Older individuals with higher incomes consider directing the tax cut towards superannuation contributions.
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