Treasurer Jim Chalmers under pressure to change stage three tax cuts that would millions of Aussies
1 year, 4 months ago

Treasurer Jim Chalmers under pressure to change stage three tax cuts that would millions of Aussies

Daily Mail  

Treasurer Jim Chalmers is adamant the stage three tax cuts will go ahead despite a call from an influential trade union for them to be radically changed. 'The government's position on the stage three tax cuts hasn't changed but we welcome and embrace people having the opportunity to raise these sorts of issues at our national conference,' he said on Monday. Nonetheless, the United Workers Union's national secretary Tim Kennedy has called for the stage three tax cuts to be reduced for high income earners, who stand to get back more than $9,000. The United Workers Union has called for the tax relief to be scaled back ahead of Labor's upcoming national conference, being held in Brisbane this week The left-wing Australia Institute think tank put the annual cost of the low and middle-income tax offset at $7billion, after the previous Coalition government introduced the relief measures.

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History of this topic

Treasurer Jim Chalmers says government has work to do on cost of living measures
1 month, 1 week ago

Treasurer Jim Chalmers says government has work to do on cost of living measures

ABC  

Treasurer Jim Chalmers says the government knows there is still a lot of ground to make up when it comes to cost of living relief for Australians despite having released a raft of packages to ease the burden of inflation. Mr Chalmers's admission on 7.30 came one day after Opposition Leader Peter Dutton borrowed a line from US president-elect Donald …

Australia PM to modify proposed tax cuts, stoking fears of inflation
10 months, 4 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 …

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise
10 months, 4 weeks ago

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise

Daily Mail  

ABC News Breakfast host Lisa Millar has grilled Treasurer Jim Chalmers over Anthony Albanese's broken election promise on tax cuts - hammering him with the PM's own claim that his 'word is his bond'. Mr Albanese will use a National Press Club address today to outline his case for overhauling the Stage Three tax cuts, which he had repeatedly insisted …

Government to overhaul stage 3 tax cuts, Jim Chalmers says changes will benefit 'many'
11 months 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". …

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 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 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 …

Jim Chalmers's budget surplus was a surprise so where has the money come from?
1 year, 7 months ago

Jim Chalmers's budget surplus was a surprise so where has the money come from?

ABC  

It has been billed as the turnaround of the century. Suddenly, that's magically transformed into a $4.2 billion surplus for this financial year, the first time we've seen federal budget black ink since 2008, when Treasurer Jim Chalmers was then-treasurer Wayne Swan's brains trust. If you can believe the forecasts — and let's face it, just a few months back …

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much
1 year, 7 months ago

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much

ABC  

No-one likes paying tax. He argues successive governments have relied too much on "bracket creep", which is basically average Australian wages climbing and pushing more and more people into higher tax brackets, and increasing revenue. The Grattan Institute's Kate Griffiths is among those suggesting changes to the "petroleum resources rent tax", arguing a simple tweak to how gas is priced …

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, 1 month 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 …

Treasurer Jim Chalmers confirms Stage Three tax cuts cost balloons to $254 billion
2 years, 2 months ago

Treasurer Jim Chalmers confirms Stage Three tax cuts cost balloons to $254 billion

Daily Mail  

Labor has hinted it could delay or abandon controversial Stage Three tax cuts arguing the cost has ballooned out to $254billion - just days before the Budget. Dr Chalmers, delivering Labor's first Budget since 2013 on Tuesday night, hinted the Stage Three tax cuts could be delayed, but also suggested they were already factored in with other spending plans, for …

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk
2 years, 2 months ago

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk

ABC  

Jim Chalmers is a wily operator. COVID changed everything – except the tax cap Just about every fairly foreseeable crisis couldn't be responded to, if the assumptions in the 2019 budget were to be believed. A separate "tax cap" set out in the budget said the government would never collect more than an arbitrarily chosen 23.9 per cent of GDP. …

Jim Chalmers plays the tease as he pushes to change stage 3 tax cuts
2 years, 2 months ago

Jim Chalmers plays the tease as he pushes to change stage 3 tax cuts

ABC  

When Scott Morrison was treasurer he flew the kite for an increase in the GST. Asked on Thursday whether he'd had Albanese's permission to "float that balloon" on changing stage 3, Chalmers said: "I don't need permission to point out that every budget we hand down, including the one in three weeks' time, will put a premium on responsible economic …

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now
2 years, 2 months ago

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now

ABC  

The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will Key points: Treasurer Jim Chalmers will hand down the Albanese government's first budget in October He says Australia's downgraded growth would have "consequences for unemployment" He confirms the "Stage 3" income tax cuts legislated by the Morrison government will go ahead as planned …

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, 2 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, 2 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 …

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