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

Thank you, Mr President. This Labor government is very, very proud of its tax record. We have delivered on the election commitments and promises we made. The tax cuts we have delivered—not modelling or options but the tax cuts delivered by this government—we are very, very proud of. Let me give a couple of examples. We have doubled the low-income tax offset from $750 in 2007-08 to $1,500 by 1 July. We have increased the 30 per cent threshold from $30,100 to $37,100. We have also reduced the tax rate applying to income over $80,000 from 40 per cent to 38 per cent. Mr Hockey, the shadow Treasurer, is the only one who has talked about— (Time expired)