Budget tax cut

I didn't particularly think much of the budget. We shouldn't be giving tax cuts to the already wealthy imho (I say that as a citizen, more than an investor), not least because the rich don't tend to spend it due to their marginal utility not gaining much from it.

That all said, I am curious to know what people will be doing with the extra money if they indeed receive it. Poll below

 

What wealthy. Isn't the cut to the top tax bracket the only one that was delayed?

And to answer your question: I've spent 15 years as a rentvestor. I drive a 20 year old car. Once I get my next one (PPOR) I'm going to be doing stupid things with my money. I've earned it.

 

I was thinking car or spend money on property living in upgrades or furniture upgrades

 

After Melbourne lockdown restrictions will be eased, I am going to spend big in cafes and restaurants. Sick of home cooked meals or take away and have been saving the last 6 months (forced savings).

 

As above.

 

No tax cuts for me.

 

I worked out the tax cut to me is about $2 a week.

Having both been privileged to remain employed throughout the entire Covid phase, Mr Angel and I have been dropping more cash than usual into some local businesses and the south east Qld hospitality industry.