The Opposition’s Angus Taylor has called on the “missing in action” Anthony Albanese to rule out amending the stage three tax cuts.
The existing sliding tax scale sees Australians earning more than $180,000 taxed 45 cents to the dollar, and those pulling in between $120,000 and $180,000 on tax rate of 37 per cent.
Treasurer Jim Chalmers sidestepped confirming whether the government would amend the massive tax cuts during the week – expected to cost up $20 billion a year – but has warned economic pressures have worsened in recent weeks. “The backdrop for the budget that I hand down in less than three weeks' time will be high inflation and rising interest rates, a deteriorating global economy, and persistent structural pressures on the budget which will not be compensated for by higher commodity prices,” the Treasurer said on Friday.
“The truth of the matter, they’ve been legislated. Labor committed, alongside us, before the last election not to drop these stage three tax cuts and yet we’ve seen for weeks now this debate running and Anthony Albanese has refused to rule out dropping the tax cuts,” he said.
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