Raising top income tax rates will push up house prices: Westpac

Wed, 23 Dec 2020

This article has been republished. It was first published in September 2020.Raising the top personal income tax rate will push house prices higher, according to past research going back to 2007 by Westpac chief economist Dominick Stephens.The Labour Party is proposing to raise the top personal income tax rate to 39 percent and to have that kick in on incomes of $180,000 or more, estimating it would increase the government's tax take by about $550 million.The current top tax rate is 33 percent and kicks in once a person's income reaches...

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