Australians earning the national average income will get a tax cut of more than $1,600 from 2026 onwards, according to the latest federal budget.
The new round of “modest” tax cuts form part of a slew of cost-of-living measures announced by the Treasury.
Treasurer Jim Chalmers said “families of middle Australia” would receive the most, with an average household receiving a combined benefit of “more than $15,000” over the next four years.
“We’re delivering energy bill relief to every household, even cheaper medicines, historic investments in Medicare, higher wages and a fairer go for consumers,”
he said.
Here’s what that may mean for you.
Extra tax cuts of more than $2,000 for average-income earners
The additional tax cuts…
