Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

Labor will be opposing this. The government will be opposing these amendments. These amendments would remove the 37 per cent tax rate from 1 July 2026, and the legislation would be repealed. By removing the 37 per cent tax rate, this amendment would make Australia's personal income tax system less progressive. It's also fiscally irresponsible. It would significantly increase costs over the medium term and place upward pressure on inflation. This amendment reduces the scope for future governments to respond appropriately to economic circumstances.