Jim Chalmers (Rankin, Australian Labor Party, Treasurer) | Hansard source

Thank you to the member for Aston. The member for Aston's only been here for a relatively short period of time, and already the member for Aston has helped ensure that every Australian taxpayer gets a tax cut. Eighty-seven per cent of her community will get a bigger tax cut as a consequence of this important change.

Everyone gets a tax cut under the changes which are before the parliament. But what we are putting forward is a bigger tax cut for more people to help with cost-of-living pressures. Our tax changes are better for Middle Australia, better for women and better for the economy. They're also better for young people, better for working families and much, much better when it comes to the industries where we need more workers to power the future.

In percentage terms, the biggest generational beneficiaries are gen Z—younger people. Ninety-six per cent of younger people are even better off. The biggest beneficiaries in dollar terms are millennials—40 per cent of the total in dollar terms for people who are more likely to have young kids and young families. In the care economy, 97 per cent of workers will get a bigger tax cut, and we need more workers in the care economy.

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