The passage of the Coalition Government’s tax reform package, which will mean $144 billion in tax cuts over the coming years, has been described as a “victory for hardworking local residents and for common sense” by Federal Member for McPherson Karen Andrews MP.
“This tax package is all about helping everyday Australians get ahead. The immediate tax offset for low and middle income earners means more money for household budgets and the tackling of bracket creep over the next decade will restore incentives for people who want to earn more,” Mrs Andrews said.
“There are 69,035 taxpayers in McPherson who stand to benefit from the low and middle income tax relief in the upcoming 2018-19 financial year. That’s a big boost for our local economy.”
Mrs Andrews said she was pleased that the Government had stuck to its guns and insisted that the package be passed in its entirety.
“Fortunately the Senate crossbenchers put Australian workers first – unlike the Labor Party. Bill Shorten’s decision to oppose these important tax cuts is really a betrayal of taxpayers.”
“We all know how important it is that our tax system is made simpler and fairer and that bracket creep is addressed. This package will mean that 94% of all taxpayers will have a marginal rate of 32.5% or less in 2024-25. This compares with a projected 63% of taxpayers without any change to current settings. ”
“The delivery of this historic tax reform is evidence of our ongoing commitment to lowering taxes and making sure that local residents can keep more of their hard earner money.”
Mrs Andrews said that the tax package was part of the 2018-19 Budget, which also delivered record funding for local schools, hospitals and roads – including $1 billion to upgrade the M1 on the southern Gold Coast.