Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The government has released a great deal of detail about the Household Assistance Package, which includes a very substantial tax reform package that will increase the tax-free threshold and involve a tax reduction for all Australians earning under $80,000 a year. That is a very sub­stantial and important tax reform package which obviously has good participation consequences as well. The Prime Minister has also indicated that nine out of 10 house­holds will receive some assistance through tax cuts or payment increases and almost six million households will get tax cuts or increased payments that cover their entire average price impact. Over four million Australian households will get an extra buffer with assistance that is at least 20 per cent more than the expected average price impact.

We have been clear that there are some people who will not be assisted. We have been clear and upfront about that. The question that is never answered by the other side is just how much tax they will impose on Australian families to pay for their direct action policy which is a complete black hole.