The original Stage 3 and its redesign will return more than $20 billion a year in accumulated bracket creep to taxpayers without doing anything much to boost economic growth.
Adjustments to Stage 3 income tax cuts will bring quiet compliance costs to small businesses and their advisors, one accountant says, as the profession calls for more holisitic tax reform.
Treasurer Jim Chalmers says the expected 10-year cost of the tax reforms has blown out, but said next week's federal budget is not the place to address those concerns.