August rate rise could eat up a chunk of your stage three tax cuts
Michael ReadEconomics correspondent
An August interest rate rise could cost some borrowers at least one-third of the extra cash they will receive from tax cuts on July 1, undermining the Albanese government’s cost-of-living relief strategy.
The average full-time worker in Australia earns $101,600, and their monthly take-home income will increase by $185 on July 1 when the revamped stage three tax cuts come into force.
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