Interest rate rise looms as budget tax relief mooted | 7NEWS
The Reserve Bank is expected to increase interest rates for the third time this year, with a 25 basis point hike set to cost families with a $600,000 mortgage an extra $91 per month. The federal government is reportedly considering a $300 tax offset for all workers in the upcoming budget to ease cost-of-living pressures, though economists warn this could fuel inflation. Additionally, the government is scaling back fringe benefits tax exemptions for electric vehicles, limiting the full discount to cars under $75,000 from April 2027.
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