What is tax bracket creep and how does it impact your take home pay? | ABC News

The stage 3 tax cuts, which take effect in July, will apply a 30 per cent tax rate to income earned between $45,000 and $200,000.
Those with taxable incomes below $45,000 will get no benefit, while those above $200,000 will get $9,075.
The government has insisted it remains committed to the tax cuts, and says returning bracket creep is a key reason why. But Stage 3 does not return bracket creep evenly.
So what is bracket creep? And how does it impact your pay?
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