LABOR’S BETTER TAX CUTS TO BENEFIT MACQUARIE

The Albanese Government is delivering a tax cut for every taxpayer in Macquarie starting on July 1.

Labor’s new tax cuts are designed to provide cost-of-living relief to middle Australia while making our tax system fairer.

Around 67,000 people – every taxpayer in Macquarie will receive a tax break from July 1 under Labor’s better tax cuts announced by the Prime Minister and Treasurer.

The average tax cut will be $1,624.

Around 57,000 people, or 85 per cent of taxpayers, will receive a bigger tax cut than they would have under the plan Scott Morrison legislated five years ago.

The average Australian wage earner on $73,000 per annum will receive a tax cut of $1504 which is more than $800 extra in their pocket each year than they would have received under Scott Morrison’s proposal.

To find out how much you will benefit from Labor’s tax cuts, use the calculator on the Treasury website: www.treasury.gov.au/tax-cuts/calculator

Quotes attributable to Treasurer Jim Chalmers:

“We’re giving a tax cut to every taxpayer in 2024.

“This is about more help with the cost-of-living and more help for middle Australia.

“This is the right and responsible thing to do - to deliver more relief for more workers without adding to inflationary pressures or burdening the budget.”

Quotes attributable to Susan Templeman, Member for Macquarie:

“Every taxpayer in Macquarie will now get a tax cut.

“We’re delivering 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.

“Our tax cuts are about ensuring more workers in Macquarie can keep more of what they earn because we know that will take pressure off people doing it tough.”