Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

All of the details of the impact of the personal income tax cuts on different levels of income and different households are all set out in the budget papers and accompanying documents. It is very, very clear that the tax relief goes to, in the first instance, people on low and middle incomes, and subsequently it goes to the broad range of income earners other than those. Of course, the rate that is not affected is the 45 per cent rate, and the threshold is lifted to $200,000 in seven years time. The 10-year cost has been given already by the Treasurer, but the point is that the income tax system remains, in terms of the distribution of the burden, as it is today, where the largest share of the tax is paid by those on higher incomes. I refer the honourable member to the answer I gave the member for Melbourne a moment ago.

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