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Consumers Tipped to Stash Tax-Cut Savings for Rainy Day

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Consumers Tipped to Stash Tax-Cut Savings for Rainy Day
Australian banknotes in Melbourne, on Nov. 7, 2017. Paul Crocker/AFP via Getty Images
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5/10/2024|Updated: 5/10/2024
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Rather than spend what they save from upcoming tax cuts, most Australians plan to bank it or pay down debt.

Billed as the primary cost-of-living relief measure of the budget, the government’s stage-three package will be predominantly stashed rather than frittered away, according to a survey by National Australia Bank (NAB).

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