Australians are getting "real and substantial" tax cuts to help with cost-of-living pressures as a suite of new changes kick in. or signup to continue reading Stage three tax cuts have come into effect, providing the average taxpayer with a benefit of $1888 a year, or $36 a week. Prime Minister Anthony Albanese is spruiking the the tax cuts amid concerns the extra cash in people's pockets will add to persistent inflation.
"I'm confident that this is real and substantial assistance whilst being responsible," he told ABC radio on Monday. "We have almost halved inflation and that's because of the discipline that we have shown in budget policy, where we have brought inflation down and where we have continued to make a difference." Treasurer Jim Chalmers said changes to tax brackets meant the government was returning money to taxpayers lost through bracket creep.
"I am personally, and we are collectively very proud of the changes that we put in place," he told reporters in Canberra. "It is tax reform ..
. it gets average tax rates down and that's been a big motivation for what we're rolling out." Other changes enacted in the new financial year include a rise in the superannuation guarantee rate to 11.
5 per cent, cheaper medicines and energy rebates. A world-first ban on manufactured stone is being hailed as a momentous day for Australian workers which will prevent "senseless deaths". Engineered stone commonly used in kitchen benchtops left workers who used the product at risk of de.
