In the January 2024 Tax Insights survey, we asked Australian businesses their thoughts about the changes to the Stage 3 tax cuts.  

The survey results provide interesting insights into the Australian business community's perception of Australia's tax policies as well as their prevailing opinion towards the proposed changes. 

Positive Responses:

Only 42.7% of respondents felt positively about the changes to the Stage 3 tax cuts.

• Approximately 13.5% reported a positive sentiment because the changes will directly benefit them.
• 29.2% support the changes for altruistic reasons, believing they will benefit a wider demographic.

Indifference:

• 3.2% of respondents remained indifferent, either unaffected by or disinterested in the alterations.

Negative Reactions:

The majority of respondents (54.1%) held negative sentiments towards the changes.

• A significant portion (38.4%) claimed their negative response related to a perceived breach of an election promise by the federal government.
  15.7% anticipated receiving less money, contributing to their negative outlook on the revisions.

The results highlight a diverse range of opinions on the Stage 3 tax cuts, calling attention to the need for transparent communication in tax policy implementations and addressing public concerns to foster trust and accountability in the tax system.

PAST TAX INSIGHT SURVEY RESPONSES