Coalition's tax policy criticized as lacking reform depth

The Coalition has proposed a tax limit of 23.9% of Australia's economy, a figure that has not been exceeded in nearly 20 years. This allows them to avoid offering new tax cuts before the federal election. Labor, which abolished the previous tax cap, has kept tax levels below 23.9%. The federal tax rate was 23.8% in 2022-23 but is projected to rise only to 23.5% over the next four years. Economists criticize the Coalition's tax policy as "shallow," arguing it does not address the need for comprehensive tax reform. Labor is expected to present a budget with fewer surprises, focusing on existing spending commitments amid global economic uncertainty.