Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I would have thought those opposite would like to know about the tax cuts starting on 1 July. For a worker on $50,000 a year, there will be a tax cut, starting on 1 July, of $450 a year. These tax cuts will provide some extra help and make a difference to families on a tight budget. They mean that someone earning $50,000 is paying $1,750 less tax than they were when this Labor government came to office—that is, a reduction in tax of $1,750. It means that the worker on $50,000 a year has seen their tax bill cut by 20 per cent in three years under this Labor government.

To give a couple of other examples: a worker on $35,000 has received a cumulative tax cut of $1,500 a year and a worker on $40,000 has received a cumulative tax cut of $1,800 a year. These are very, very significant income tax cuts that are being delivered by this Labor government. Our tax cuts put more incentive into the system— (Time expired)