Summary of proposal
Party
Australian Greens
Policy Topic
Taxes
Portfolio
Treasury

The request sought estimated financial implications and distributional analysis of the Government’s revised Stage 3 tax cut changes announced on 25 January 2024, relative to 2023-24 tax settings. The revised Stage 3 tax cuts take effect from 1 July 2024.

 Pre stage 3
 		  Stage 3
 		  Revised Stage 3
 
 Tax free threshold $18,200 
 		  Tax free threshold $18,200 
 		  Tax free threshold $18,200 
 
 $18,200 to $45,000 at 19%
 		  $18,200 to $45,000 at 19%
 		  $18,200 to $45,000 at 16% 
 
 $45,000 to $120,000 at 32.5%  
 		  $45,000 to $200,000 at 30%  
 		  $45,000 to $135,000 at 30% 
 
 $120,000 to $180,000 at 37%  
 		  —
 		  $135,000 to $190,000 at 37%  
 
 $180,000 + at 45%
 		  $200,000 + at 45%
 		  $190,000 + at 45% 
 


The distributional analyses sought the aggregate change in tax paid for taxpayers affected by the revised tax cuts split by:

  • taxable income quintiles
  • gender
  • the following taxable income brackets:
    • less than $45,000
    • $45,001 to $60,000
    • $60,001 to $90,000
    • $90,001 to $120,000
    • $120,001 to $150,000
    • $150,001 to $180,000
    • greater than $180,000.
31 January 2024