Skip navigation

What The Tax Cuts Mean For You

Everywhere I go, you tell me the government should be doing much more to address the cost of living crisis. I couldn’t agree more.

Today, the government announced its plans to modify the Stage 3 tax cuts to help Australia through the worst cost of living crisis in a generation.

As many of you will know, I have been advocating for fairer Stage 3 tax cuts for some time now.

The tax cuts were first legislated by Scott Morrison in 2019 – before the pandemic, and before the cost of living crisis. Times have changed, and I believe it is appropriate for the government to adapt its economic policies to the times we’re in.

Everywhere I go, you tell me the government should be doing much more to address the cost of living crisis. I couldn’t agree more. Mortgages and rents are up. The supermarket shop is too expensive. Energy bills are too high. 
That’s why I led calls to give more Australians a bigger tax cut by modifying Stage 3, and I’m glad the government has today changed its position. With this amended proposal, all Australian workers will receive a tax cut, but they should not, according to the Treasury, face increased inflation.

Here’s what the new tax cuts mean for you.  

While these tax cuts are a step in the right direction, they are only a start.  

The government can and must do more to combat the rising cost of living. We should have tough new laws that ensure lower prices when we check out at the supermarket and check in at the airport. We should build more homes to take the pressure off rising house prices and rents. And we should supercharge the renewable energy boom with record investment to bring down electricity prices with cheap, clean energy.  

I’ve also been pushing for greater and fairer returns from our finite national resources. Australians receive much less benefit from our oil, gas and mineral deposits than other resource-rich countries. Appropriate taxes on multinationals — many of which pay virtually no tax in this country — would fund the renewables transition and help us support vulnerable Australians and provide essential services.

There’s a lot to do.  

I hope you have all had a lovely break among friends and family and are looking forward to a great year ahead. I certainly am.  

As always, if you would like any assistance with government services, including Centrelink matters, visas, and NDIS issues, my staff and I are here to help. Please write to us at [email protected], or call on 03 9326 2900. 

All the best,  

Continue Reading

Read More