9 May 2018

Tax cuts in store for low, middle-income Australians

From Morning Report, 8:30 am on 9 May 2018

In Australia, the Budget has unveiled a plan for significant tax cuts - if voters decide to stick with the Liberal-led government. Treasurer Scott Morrison is promising to cut taxes by $140 billion over seven years, but the biggest cuts don't come until 2024. Low- to middle-income Australians appear to be the 2018 budget's biggest winners, at least, in the short-term. Short-term, Australian families with both parents on an average income will pocket more than $1000 a year from July 1. The tax-cut plan may be the major policy the Turnbull government campaigns on at an election due within the next year. Michelle Grattan is the chief politica correspondent for The Conversation. She joins Guyon Espiner with her analysis.