Everyone with a taxable income below $146,000 will receive a larger tax cut than under the original plan, while top income earners will get less than promised.
Labor has torn up the third and final stage of a tax relief package that became law in 2019. The changes, which will kick in on July 1 of this year, mean everyone with a taxable income below $146,000 will receive a larger tax cut than under the original plan, while top income earners will get less than promised.
The top 10 per cent will be worse off. Simon Letch
Duncan HughesReporterDuncan Hughes is a Walkley award-winning personal finance reporter, based in our Melbourne newsroom. Connect with Duncan on Twitter. Email Duncan at duhughes@afr.com.au
Joanna MatherWealth editorJoanna 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
