BNET Business Dictionary

Business Definition for: Bracket Creep

the way in which a gradual increase in income moves somebody into a higher tax bracket

Wiktionary Definition for: Bracket Creep

AU Increased taxation arising from wage and salary increases pushing taxpayers into higher tax brackets, or further into such brackets, in a progressive taxation system. The wage rises here are those from keeping pace with inflation or similar (not increased skills or better jobs) so a worker merely doing the same thing for the same notional purchasing power is taxed at a higher rate.

Additional Resources

That creepy feeling.: Aug 18, 2002 The Sunday Times ABIX via COMTEX -- The five per cent of Australians on the biggest incomes pay 27 of the total taxation bill. This is one of the statistics released by the Australian Taxation Office. Taxpayers earning $A16,000 a year...; Tags: Australian Taxation Office, FINANCE, income, taxation; Research articles 2002-08-18
High Court in dark too.: Byline: Tony Harris May 22, 2006 (The Australian Financial Review - ABIX via COMTEX) -- The High Court of Australia is hearing a case about freedom of information. The Australian Treasurer, Peter Costello, has denied the press the freedom to see specific Treasury...; Tags: ABC Inc., Australia, treasurer; Research articles 2006-05-22
Tax creep catches another 250,000.: Aug 11, 2001 The Australian ABIX via COMTEX -- More Australian workers are paying higher levels of tax in August 2001. Figures from the Australian Taxation Office ATO reveal that the number of people in the over-$A50,000 tax bracket has risen from 16...; Tags: Australia, Australian Taxation Office, FINANCE, Taxes; Research articles 2001-08-10
AUSTRALIAN NEWSPAPER HIGHLIGHTS - MAY 14, 2003.: SYDNEY, May 14 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH - Middle income earners to get a $4 extra a week following tax cuts in the federal Budget. - Income tax cuts ensure millions of Australians' pay packers don't...; Tags: Macquarie Bank Ltd.; Research articles 2003-05-14

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