Quick Glance: Tax Relief: Government Reduces High-end Tax Rates
- The government reduces stage 3 tax cuts for high earners and grants broad tax relief of up to $804.
- Changes to stage 3 tax cuts are made by the Albanese government due to changing economic circumstances.
- In addition to changes in tax rates and thresholds, the government will exempt some low-income individuals from the 2% Medicare levy.
- The stage 3 changes constitute a clear broken promise - the government insisted as recently as Monday that it had not changed its commitment to the Coalition-era cuts.
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