Two in three workers will pay tax at the rate of 30 cents in the dollar from mid-2024 under Coalition plans to create a mega tax bracket spanning people on incomes of $45,000 to $200,000.
Tuesday's budget more than doubles spending on tax relief packages over the next decade to $302 billion, the bulk of which comes in the later years.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
