After two years of mercilessly raping workers’ living standards, Albo is going to offer a helping hand:
The changes, the full details to be approved by caucus today, include lowering the 19 per cent tax rate for incomes up to $45,000, lifting the tax-free threshold from $18,200 to $19,000, and reinstating the 37 per cent rate for those earning between $135,000 and $190,000, after which the 45 per cent rate will apply.
The net effect means people earning up to $150,000 will be better off than they would have been under the currently legislated stage three tax package, while the benefit for those on the highest incomes will almost be halved.
