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 …
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 …