ATO’s tax rebate failed to stimulate economy
- molly510
- Aug 13, 2019
- 1 min read
The tax rebate of about $1000 hoped to be an economic stimulus isn't travelling far or doing much stimulating.
It is being used by debt-laden households to take advantage of low interest rates and pay off IOUs and reduce home mortgages, a bank's survey has found.
And some households are still unable to survive on wages and investments every month without going further into debt.
The ME Bank's Household Financial Comfort Report released today found families are more worried than six months ago about job security, income, and meeting living expenses.
It found 35 per cent of those surveyed wanted more work than they could currently get, and around a quarter of those in jobs felt insecure.
Comments