The stage three tax cuts are a taxation policy overseen by the Australian Government, scheduled to come into effect in mid-2024. Originally forming the third and last stage of the Turnbull government's personal income tax reforms, stage three was altered in the Morrison government's 2019 budget to include an additional A$90 billion of tax cuts.[1]
Stage three has been the subject of significant political discussion and controversy in Australian politics, and has been a significant wedge issue. During the 2022 Australian federal election campaign, the Coalition and Australian Labor Party both stated their full support for retaining stage three, whereas the Australian Greens and several independent MPs argued for its modification or abolition. In January 2024, the Albanese government announced modifications to stage three that reduced the overall cost and gave larger cuts to individuals earning under A$200,000.
^Morgan, Elysse (20 October 2022). "Massive cost of stage 3 tax cuts due to 'regrettable' changes by Morrison government, Turnbull says". ABC News. Archived from the original on 5 February 2024. Retrieved 5 February 2024.
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