Lower Taxes

An Albanese Labor Government will deliver tax relief for more than 9 million Australians through the legislated tax cuts that benefit everyone with incomes above $45,000.

We will also support cost of living relief for Australians through an increase in the low-and-middle income tax offset by $420 this year.

Labor will provide certainty and clarity on tax to Australian working families after a difficult few years for our country and the world.

Our focus is on making sure Australia emerges from this crisis stronger and more resilient – with an economy that works for working families, not the other way around.

Over almost a decade in government, the Coalition’s record is clear in the lives of everyday Australians:

  • stagnant wages,
  • insecure jobs,
  • increased costs for health care and childcare,
  • longer waits to see a GP, and
  • a trillion dollars in debt.

The Morrison Government is the second highest taxing government of the last three decades – second only to John Howard’s Government. After promising eight surpluses and delivering eight deficits, including the largest in Australia’s history, this Government’s only legacy will be generational debt without a generational dividend.

Their own Budget forecasts a second year of declining real wages and independent analysis by the McKell Institute shows that their policies have made the average worker $16,000 a year worse off.

Improving the Budget is all about growing the economy and creating jobs.

An Albanese Labor Government will focus on meaningful investments for maximum economic impact and community need, cracking down on waste and rorts, making sure multinationals are paying their fair share of tax, creating more opportunities for more Australians in more parts of the country, and creating a society that is stronger after COVID-19 than it was before.

Related policies: