Labor’s Revamped Stage 3 Tax Cut Passes Senate with Coalition Support

The Albanese government’s reworked stage three tax cuts have passed the Senate, a move that will bolster the benefits for low to middle-income earners while reducing the tax break for the higher end of town. Under the new law, Australians making under $146,000 (US$95,000) will receive a bigger tax cut than under the previous legislation by the former coalition government. On the other hand, those making above this threshold will get a smaller tax cut than they otherwise would have. The centre-right Coalition backed the new legislation even though Coalition Leader Peter Dutton had criticised Labor for breaking an election promise to not touch the stage three tax cut....