Posted 1/22/2024, 9:46:39 PM
PM Considers Expanding Stage 3 Tax Cuts to Aid Lower Earners
- Prime Minister hints that stage 3 tax cuts will be expanded to benefit lower-income earners
- As legislated, stage 3 cuts give no tax cut to those earning less than $45,000
- Reportedly considering keeping 45% tax rate from $180k-$200k, not cutting it to 30%
- This would raise less revenue from high earners, potentially used to lift tax-free threshold
- Shadow Treasurer says any change to cuts would be "mother of all broken promises"