Single Australians Slapped With World’s Biggest Tax Increase in 2023

Single Australian workers were the hardest hit by tax increases among advanced economies in 2023, a new report has shown. The OECD (Organisation for Economic Cooperation and Development)’s latest Taxing Wages 2024 report (pdf) gave a snapshot of how workers’ tax rates evolved in 38 countries in the previous year. It found that Australia experienced the most significant rise in the tax burden (income tax plus employee and employer contributions less cash benefits) for single employees with a 2.14 percent point rise, followed by Luxembourg with a 1.39 percent point increase. However, Australia’s average tax rate for workers (29.2 percent) was still below the OECD’s average of 34.8 percent, and the country ranked 30th among the OECD nations....