Cutting taxes for middle Australia is a central part of our economic plan – along with getting wages moving again, bringing inflation under control and driving fairer prices for Australian consumers.
Our tax cuts come on top of the billions of dollars in targeted and responsible cost-of-living relief that’s being rolled out, including:
- Energy bill relief;
- Cheaper medicines;
- Cheaper child care;
- Strengthening Medicare;
- Higher income support payments; and
- The biggest boost to Rent Assistance in 30 years.
The Albanese Government is providing meaningful cost-of-living relief in a responsible way that doesn’t add to inflationary pressures, while laying the foundations for a stronger and more resilient economy.
The changes to the personal income tax system will have a net cost of $1.3 billion over the forward estimates. The total impact of these tax cuts is expected to be $107 billion over the forward estimates.
Tax cuts to help Australians with the cost of living | Prime Minister of Australia (pm.gov.au)
