New independent research from the Parliamentary Budget Office shows that Labor’s Stage 3 Tax cuts will give Australia’s richest 1% as much as the bottom 65% of taxpayers in its first year.
Amid a cost of living crisis, the data confirms that the Stage 3 tax cuts will effectively dismantle Australia’s progressive taxation system, and overwhelmingly favour the nation’s richest people.
Women will get around 50c for every dollar a man receives, further increasing gender inequality, and a huge proportion of the $243.5bn will go to people in the top tax bracket.