Stage three tax cut changes are in play and are proving controversial despite most workers getting a greater benefit than they would have under the initial plan. The federal government says the revised plan will help "middle Australia" with cost of living pressures, but the Opposition has accused it of breaking a promise, with Labor having previously indicated the stage three cuts would go ahead unchanged. Workers earning $150,000 or more will still receive a tax cut, but it will be less generous than what was offered under the initial package. Here's what you need to know.
Stage three tax cut changes are in play and are proving controversial despite most workers getting a greater benefit than they would have under the initial plan. The federal government says the revised plan will help "middle Australia" with cost of living pressures, but the Opposition has accused it of breaking a promise, with Labor having previously indicated the stage three cuts would go ahead unchanged.
Workers earning $150,000 or more will still receive a tax cut, but it will be less generous than what was offered under the initial package. Here's what you need to know. They formed part of a tax package passed by the previous Coalition government in 2019. Stage one and stage two of the tax cuts have already taken effect to benefit low and middle-income households. Under the Coalition's plan, stage three would have abolished the 37 per cent tax rate, putting in place a 30 per cent flat tax rate for anyone earning between $45,000 and $200,00
Stage Three Tax Cut Controversy Workers Federal Government Middle Australia Cost Of Living Promise Opposition Labor Tax Package Coalition Government
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