Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Senator Whish-Wilson is somewhat misrepresenting what Mr Jordan has said. Mr Jordan indicated that he would be able to make relevant adjustments to the tax scales once he had sufficient confidence that the law would pass. As you would be aware—again, it is a matter of public record—the Labor opposition, through their relevant spokespeople, indicated some time ago that Labor would support this tax cut for hardworking families. As such, it was evident that there was broad bipartisan support for this tax cut in this parliament—which meant that the tax commissioner had great confidence that the tax cut would pass the Senate, irrespective of the solitary filibuster that you are seeking to run here tonight.

It is noted in the Treasurer's media release dated 2 September 2016 that the ATO confirmed it would issue a new PAYG withholding tax schedule in the week commencing 5 September 2016. Taxpayers have started to receive the benefits of this measure in their pay packets from 1 October 2016. Any tax overpaid beforehand will be refunded by the ATO on assessment.