Original article by Phillip Coorey, Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 24-Jan-24

The federal government is set to break a key election pledge by making changes to the legislated stage-three personal income tax cuts. The proposed changes were discussed at a cabinet meeting on Tuesday, and will be endorsed by Labor’s caucus on Wednesday. Amongst other things, the government is expected to retain the 37 per cent income tax rate that was to have been abolished in July, although the current income threshold of between $120,000 and $180,000 will be increased. Prime Minister Anthony Albanese is slated to announce the changes to the tax cuts package and new cost-of-living relief measures at a National Press Club speech on Thursday.

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AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET