88 per cent of Wide Bay-Burnett taxpayers to receive bigger tax cuts

Treasurer Jim Chalmers said Wide Bay-Burnett taxpayers were ‘big beneficiaries’ of changes to the Stage 3 tax cuts, with 88 per cent of the region’s taxpayers to get a bigger tax cut than they would have received under the original scheme.

Jim Chalmers said Wide Bay-Burnett taxpayers were 'big beneficiaries' of the changes to the Stage 3 tax cuts criticised as a broken promise by Hinkler MP Keith Pitt.

The treasurer’s office has released data showing most Wide Bay-Burnett taxpayers will be better off thanks to the controversial changes to the stage 3 tax cuts.

Following Prime Minister Albanese’s announcement on Thursday of plans to deliver bigger tax cuts to people earning $45,000 to $135,000, Treasurer Jim Chalmers said the Wide Bay-Burnett would be “big beneficiaries” of the proposed changes.

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According to treasury data, 88 per cent of Wide Bay-Burnett taxpayers, or 100,000 people, will receive a bigger tax cut than they would have received under the original scheme.

A person earning the average Wide Bay-Burnett income of $51,378 will have their tax cut increased by $963 under the new plan.

People earning $40,000, not in line for any tax cuts under the old plan, will receive a tax cut of $654 in the revised scheme.

Those earning $100,000 will receive a tax cut of $2179, $804 more than they would have received under the old scheme.

Higher income earners will receive a reduced tax cut, with those earning over $200,000 to receive a cut of $4529 under the new scheme after being line to receive a cut of just over $9000.

Treasurer Jm Chalmers (right) said the changes to the tax scheme were aimed at delivering relief to those most affected by the cost of living crisis.

Mr Chalmers said the measures were aimed at delivering relief to those most affected by the cost of living crisis.

“Every taxpayer in the Wide Bay-Burnett region will now get a tax cut and the vast majority of workers will get a bigger tax cut,” Mr Chalmers said.

“The people of the Wide Bay-Burnett region are big beneficiaries of our bigger tax cuts for more Australians.

“Our bigger, fairer tax cuts will benefit more Australians than ever before and help ease the cost of living.

“That means more help for working families and more help for Australians already under the pump from the cost of living, putting cash back into people’s pockets when they need it most.

“Labor’s tax cuts are about ensuring the workers of the Wide Bay-Burnett region keep more of what they earn because we know that will take pressure off people doing it tough.”

LNP Hinkler MP Keith Pitt said the prime minister’s proposed changes to the stage 3 tax cuts would not only constitute a broken promise, but would be illegal in varying from the cuts legislated under the Morrison government in 2019.

LNP Hinkler MP Keith Pitt said the increased tax cut of $963 for the average Wide Bay-Burnett tax payer was less than the rebate received through the Low and Middle Income Tax Offset scrapped by the Albanese government.

“These stage 3 tax cuts were legislated by the Australian parliament, with the support of the Labor party.

“Any changes would be worse than a broken promise, it would be breaking the law, or L-A-W law as Paul Keating would say.”

Mr Pitt said the $963 increase in tax cuts for the average Wide Bay-Burnett taxpayer was less than the $1500 in relief provided through the Low and Middle Income Tax Offset which the Albanese government scrapped in 2022.

“The Treasurer (removed) $1500 from more than 50,000 Hinkler constituents when Labor removed the Low and Middle Income Tax Offset and now expects a round of applause for giving a little over $900 back,” Mr Pitt said.

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“All of this from the Albanese Government that is causing the cost of living crisis because of their policies. This is another broken promise by the Prime Minister to add to the growing list: power prices, mortgage costs, cost of living and now tax cuts.”