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Lambie locked in: Australia’s new income tax cuts could be passed today

Macquarie National News

The Morrison government looks to have secured the support it needs to get its full income tax package through the Senate as early as today.

The Centre Alliance has confirmed its two senators will back the legislation after negotiations over rising energy costs.

And Jacqui Lambie this morning confirmed she’s giving her vote to the tax cuts “in good faith” that something will be done to tackle homelessness in Tasmania.

The first stage of the plan will deliver up to $1080 to low and middle-income earners when they lodge their tax returns in coming months.

The second stage will see people earning up to $45,000, not the current $41,000, moved to a 19 per cent tax rate.

The third and most-wide-ranging stage would see the tax rate slashed from 32.5 per cent to 30 per cent for those earning between $45,000 and $200,000 from mid-2024.

Senior government minister Greg Hunt has told Macquarie Radio it is important the tax cuts go through.

“We believe these tax cuts are vitally important to allow Australian families to have the most money in their pocket,” he said.

Macquarie National News
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