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

I thank Senator Stewart for the question and for her focus on the cost of living and how to alleviate cost-of-living pressures, particularly in her home state of Victoria. A person on an average income of $73,000 will get a tax cut of $1,504, an increase of $804 compared to the Morrison tax plan. A person on a national full-time minimum wage of just over $45,000 will get a tax cut of $827, an increase of $804 compared to the former tax plan.

Under our tax cuts, people earning $45,000 will get the largest increase in tax relief as a proportion of their income, because under the former tax plan they were getting zero. They will now get a tax return that they deserve. A person on an income of $50,000 will get a tax cut of $929. A person on an income of $100,000 will get a tax cut of $2,179. A person on an income of $130,000 will get a tax cut of $3,379. Those on high incomes, of $190,000 or $200,000, will get a tax cut of over $4½ thousand. This is still the largest absolute tax cut by any income group.

We know that these tax cuts go to 100 per cent of taxpayers. We know that 90 per cent of women will get a bigger tax cut, as I said yesterday. We know the benefits right across Victoria, for example, where 3½ million people will get a tax cut on 1 July under our tax plan and 86 per cent of taxpayers in Victoria will get a bigger tax cut.