May 06, 2026 (The Australian - ABIX via COMTEX) --
The federal government has not denied reports that next week's budget will include an 'earned income' tax offset. This offset will be worth between $200 and $300 for people who have paid income tax. However, it is estimated that the average household's costs have risem by more than $1,200 since the Reserve Bank started raising the cash rate in February and the onset of the Iran war. This takes into account factors such as higher mortgage repayments and the rising cost of petrol, groceries and electricity in recent months. Independent economist Saul Eslake has warned that more government hand-outs risks a "second round" of inflation..
Publication Date: 7 May 2026
RESERVE BANK OF AUSTRALIA
COMTEX_478663971/2229/2026-05-06T20:05:25
By Noah Yim and David Tanner
Copyright 2026 Roy Morgan Research. All Rights Reserved.
