Coalition to wave through stage 3 tax cut changes
11 months ago

Coalition to wave through stage 3 tax cut changes

ABC  

In short: The government's tax cuts will pass parliament with the support of the Coalition The government's tax cuts will pass parliament with the support of the Coalition The federal opposition will attempt to amend the bill but will not stand in the way if that fails. The Coalition has agreed at a partyroom meeting to wave through the federal government's changes to the stage 3 tax cuts. Prime Minister Anthony Albanese last month announced the government would break an election promise and attempt to amend tax cuts legislated by the former government, shifting the gains towards middle-income earners. 'Bad policy', but Coalition will support revised cuts Peter Dutton said the government had betrayed the public's trust and labelled the changes "bad policy", but the Coalition would support them anyway.

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History of this topic

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears
6 months, 4 weeks ago

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears

Associated Press  

LONDON — Prime Minister Rishi Sunak on Tuesday implored British voters, and his own party, to throw him a lifeline in the U.K.'s election, pledging to cut taxes and reduce immigration if his Conservative Party is reelected on July 4. With the Conservatives trailing the left-of-center Labour Party in opinion polls, Sunak acknowledged that “people are frustrated with our party …

Government's overhaul of stage 3 tax cuts pass Senate
10 months, 2 weeks ago

Government's overhaul of stage 3 tax cuts pass Senate

ABC  

In short: The government's amendments to stage three tax cuts have passed the Senate. The government's amendments to stage three tax cuts have passed the Senate. The government's overhaul of the stage 3 tax cuts passed the Senate unamended on Tuesday evening, having previously passed in the House of Representatives. It's a political victory for the federal government, which spent …

Labor's been putting the hard-sell on their Stage 3 tax cut changes. We'll soon know if it's worked
11 months, 1 week ago

Labor's been putting the hard-sell on their Stage 3 tax cut changes. We'll soon know if it's worked

ABC  

In the week since the prime minister rolled the dice with his Stage 3 tax gamble, he's been on the sort of media blitz usually reserved for selling a budget or winning an election. Jim Chalmers has been out doing the work to make sure Labor's message on changes to Stage 3 tax cuts gets through. Labor is taking a …

Greens cite PBO analysis showing reshaped stage 3 tax cuts still favour highest earners
11 months, 1 week ago

Greens cite PBO analysis showing reshaped stage 3 tax cuts still favour highest earners

ABC  

In short: Analysis from the independent Parliamentary Budget Office shows the lowest 40 per cent of income earners will receive just 9 per cent of the benefits from the government's tax cuts. Analysis from the independent Parliamentary Budget Office shows the lowest 40 per cent of income earners will receive just 9 per cent of the benefits from the government's …

Australia PM to modify proposed tax cuts, stoking fears of inflation
11 months, 2 weeks ago

Australia PM to modify proposed tax cuts, stoking fears of inflation

The Hindu  

Australia Prime Minister Anthony Albanese said on Wednesday, January 25, 2024, that he would consult lawmakers to modify proposed tax cuts for higher earners, potentially breaking an election pledge in a decision some economists worry could stoke inflation. Shane Oliver, chief economist at AMP, said the proposed changes benefit low — and middle-income earners, who tend to spend rather than …

Government to overhaul stage 3 tax cuts, Jim Chalmers says changes will benefit 'many'
11 months, 2 weeks ago

Government to overhaul stage 3 tax cuts, Jim Chalmers says changes will benefit 'many'

ABC  

The government, in an election promise backflip, will overhaul stage 3 tax cuts, leaving most Australians with extra cash in their pocket when the measures take effect in July. Treasurer Jim Chalmers told 7.30 the government had changed its view on the cuts because it had found "a better way to provide more cost of living relief to more people". …

Anthony Albanese is smashed with brutal questions about changing the Stage Three tax cuts - after he promised he wouldn't because his 'word is his bond'
11 months, 2 weeks ago

Anthony Albanese is smashed with brutal questions about changing the Stage Three tax cuts - after he promised he wouldn't because his 'word is his bond'

Daily Mail  

Anthony Albanese has denied claims he's gone back on pre-election promises by scrapping the planned Stage Three cuts despite his vow that 'my word is my bond'. Anthony Albanese has denied claims he's gone back on pre-election promises by scrapping the planned Stage Three cuts despite his vow that 'my word is my bond' Prime Minister Anthony Albanese had previously …

First Stage Three tax cuts... then Stage Four and Five? Shock theory about Anthony Albanese's tax plan as PM gives MPs dramatic five-word directive
11 months, 2 weeks ago

First Stage Three tax cuts... then Stage Four and Five? Shock theory about Anthony Albanese's tax plan as PM gives MPs dramatic five-word directive

Daily Mail  

Prime Minister Anthony Albanese has reportedly instructed Labor MPs to address questions about the Stage Three tax cuts by saying 'we haven't changed our position'. Prime Minister Anthony Albanese has reportedly given Labor MPs a five-word phrase to use about the Stage Three tax cuts, as a high-profile economist floats a radical plan that would cut everyone's taxes Stephen Koukoulas, …

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you
11 months, 2 weeks ago

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you

Daily Mail  

Prime Minister Anthony Albanese is reportedly considering a significant overhaul of the promised Stage Three tax cuts, a radio host has claimed. Prime Minister Anthony Albanese is reportedly planning to overhaul the promised Stage Three tax cuts, a radio host has claimed Under the new plans, lower income earners would instead reportedly receive more relief in an attempt to alleviate …

Promise check: Maintain the Coalition's legislated tax cuts
1 year, 7 months ago

Promise check: Maintain the Coalition's legislated tax cuts

ABC  

This promise was considered broken on Februrary 27, 2024. See why After months of deliberation, Labor announced in July 2021 that it would maintain the Coalition's legislated personal income tax cuts if elected. At a May 2021 National Press Club address, then shadow treasurer Jim Chalmers said: "Everyone on incomes below $88,000 will be worse off under the Prime Minister's …

Cabinet minister Ed Husic says Stage Three tax cuts were an election promise that Labor will keep
1 year, 8 months ago

Cabinet minister Ed Husic says Stage Three tax cuts were an election promise that Labor will keep

Daily Mail  

The controversial Stage Three tax cuts - mainly benefiting the wealthy as millions get relief - are here to stay because they were an election promise, a Labor cabinet minister insists. Scroll down for audio A cabinet minister in Anthony Albanese 's Labor government is adamant the Stage Three tax cuts for the wealthy are here to stay because they …

Labor's first budget back in government will make income inequality worse, and the stage 3 tax cuts are mainly to blame
2 years, 2 months ago

Labor's first budget back in government will make income inequality worse, and the stage 3 tax cuts are mainly to blame

ABC  

The financial benefits of the Albanese government's major tax and welfare policies will flow overwhelmingly to Australia's richest households, making income inequality worse. The modelling shows the government's policies will see the top 20 per cent of households getting an extra $12 billion a year in disposable income in 2024-25. It considers the distributional impact of three major measures in …

Forecast cost for stage 3 tax cuts rises by $11 billion
2 years, 2 months ago

Forecast cost for stage 3 tax cuts rises by $11 billion

ABC  

Treasurer Jim Chalmers says the forecast cost of the stage 3 tax cuts has risen and will now cost the nation around $254 billion over 10 years. Key points: The stage 3 tax cuts were supposed to cost around $243 billion Treasurer Jim Chalmers says the tax cuts will not come into effect for a few years and the budget …

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation
2 years, 3 months ago

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation

ABC  

The federal government appears set to maintain income tax cuts that will predominantly benefit high and middle-income earners in this month's budget, despite looming speculation the multi-billion dollar package would need to be pared back amid a worsening economic outlook. Key points: Stage 3 tax cuts were legislated under the Coalition government and are due to come in to effect …

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars
2 years, 9 months ago

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars

Daily Mail  

Australian full-time workers will miss out an early income tax cut in the federal Budget later this month - as the government spends more tax funds on cost of living payments to help people cope with soaring prices. Stage one increased the upper threshold for the 32.5 per cent personal income tax bracket from $87,000 to $90,000. Stage two, due …

Federal Budget will bring forward tax cuts as part of coronavirus response
4 years, 3 months ago

Federal Budget will bring forward tax cuts as part of coronavirus response

ABC  

Millions of Australians will have more money in their pockets within weeks, as the Federal Government plans to bring forward and supercharge tax cuts in Tuesday's Federal Budget. Key points: The Budget will bring forward income tax cuts scheduled for 2022 The Budget will bring forward income tax cuts scheduled for 2022 The plan will cut taxes for anyone earning …

How those on $200,000 could see their $11,640 tax cut brought forward from July 2024 in budget
4 years, 3 months ago

How those on $200,000 could see their $11,640 tax cut brought forward from July 2024 in budget

Daily Mail  

Wealthy Australians earning $200,000 a year are set to have their $11,640 tax cuts fast tracked. Treasurer Josh Frydenberg's first budget in April 2019 unveiled three stages of income tax cuts - with the full package passing the Senate after the election. Treasurer Josh Frydenberg's first budget in April 2019 unveiled three stages of income tax cuts - with the …

Proposal to bring forward income tax cuts in Federal Budget criticised as benefiting high-income earners
4 years, 3 months ago

Proposal to bring forward income tax cuts in Federal Budget criticised as benefiting high-income earners

ABC  

Former Reserve Bank officials and senior bureaucrats are among a group demanding Treasurer Josh Frydenberg look towards more social spending rather than bringing forward legislated income tax cuts. Key points: Josh Frydenberg has floated the idea of bringing forward income tax cuts by two years, as part of his October Budget A former secretary of the Department of Prime Minister …

Government considering bringing tax cuts forward as part of coronavirus economic response
4 years, 6 months ago

Government considering bringing tax cuts forward as part of coronavirus economic response

ABC  

The Federal Government is considering bringing forward planned income tax cuts, after Treasurer Josh Frydenberg's acknowledgement that plunging most Victorians back into lockdown will cost the economy billions of dollars. Key points: The Treasurer estimates Melbourne's lockdowns could cost the economy $1 billion a week The Treasurer estimates Melbourne's lockdowns could cost the economy $1 billion a week Income tax …

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced
5 years, 6 months ago

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced

ABC  

Imagine you're offered a great new job. The first is transparency: while budget watchers know that the Government's role in the economy and society will become smaller after the tax cuts take effect, it wasn't a key election issue. It finds, by the end of next decade, two-thirds of the second part of the stage-three tax cuts will go to …

Scott Morrison's key election 2019 tax cut promise faces delay
5 years, 7 months ago

Scott Morrison's key election 2019 tax cut promise faces delay

ABC  

Tax cuts of up to $1,080 per person could be delayed, with Federal Parliament unlikely to return before June 30. Key points: The tax cuts were a central feature of the Coalition's election campaign The plan would give a dual income household an extra $2,160 a year The delay is due to the electoral process not allowing time for parliament …

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