Senator Jacqui Lambie has urged the government to reconsider the “bloody stage three tax cuts” ahead of Labor’s second budget on Tuesday night.
The cuts, which received bipartisan support prior to the federal election, have been costed at upwards of $250 billion and will come into effect in 2024.
Jacqui Lambie launched an eleventh-hour plea on Monday night for the government to scrap the legislated stage three tax cuts ahead of the budget. Picture: NCA Under the stage three tax plan the 37 per cent tax rate will be completely scrapped, with Australians earning between $45,000 and $200,000 moving to the new 30 per cent bracket – which is down from 32 per cent.
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