Member for Robertson Gordon Reid says the Federal Government’s latest tax cuts, announced on January 25, were a good thing for the Central Coast.
Prime Minister Anthony Albanese copped some flack from the Opposition for breaking a pre-election promise not to change planned stage three tax cuts, but Reid said the Government was delivering a bigger cut for more people to help with the rising cost of living.
“Cost of living is a significant issue for our community on the Central Coast,” he said.
“A competent government listens and adapts to make things better, when needed.
“Addressing cost of living pressures is my number one priority and when economic circumstances change, the right thing to do is adapt your economic policy.
“From July 1, every Australian taxpayer will get a tax cut.
“We will deliver a tax cut that benefits more Australians, and we are doing it in a way that is fair and responsible.”
The Government says the new tax cuts are designed to provide cost-of-living relief to middle Australia while making the tax system fairer.
Every taxpayer on the Central Coast will receive a tax break from July 1, with the average cut being $1,580 in Robertson, $1,430 in Dobell and $1,551 in Shortland.
There are 56,000 people in Robertson, 61,000 people in Dobell and 57,000 in Shortland, or 85 per cent per cent of taxpayers in Robertson, 88 per cent in Dobell and 85 per cent in Shortland, who will receive a bigger tax cut than they would have under the plan former Prime Minister Scott Morrison legislated five years ago.
The average Australian wage earner on $73,000 per annum will receive a tax cut of $1,504 which is more than $800 extra in their pocket each year than they would have received under the former proposal.
Treasurer Jim Chalmers said delivering more relief for more workers without adding to inflationary pressures or burdening the budget was “the right thing to do”.
To find out how much you will benefit from Labor’s tax cuts, use the calculator on the Treasury website: www.treasury.gov.au/tax-cuts/calculator