Who gets what from stage three tax cuts and why (in four charts)
Australia has five different tax brackets, but that’s about to change – unless the Labor government makes amendments before July 1 to benefit “middle Australians”.
Canberra’s political debate is again being dominated by discussions about the stage three tax cuts.
Prime Minister Anthony Albanese and Treasurer Jim Chalmers have hinted at possible changes to the already legislated package – set to take effect from July 1 – that would benefit “middle Australia”, potentially softening the ground to withdraw the cuts, breaking an election promise and limiting the benefits for top income earners.
Michael ReadEconomics correspondentMichael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Tom McIlroyCanberra Bureau ChiefTom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
