Stage 3 tax cuts LIVE updates: Bigger cuts for workers earning up to $150,000 - Sydney Morning Herald

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Government has ‘full confidence’ in ABC chair and managing director

Asked about the government’s confidence in the ABC’s management after the sacking of casual ABC broadcaster Antoinette Lattouf who claims she was targeted by an “orchestrated attack”, Rowland said she had full confidence in the broadcaster.

“The government has full confidence in the ABC chair and its managing director, secondly the matter to which you refer is the subject of a fair work hearing, we will not be interfering in that process, we will let that run its course,” Rowland said.

Communications Minister Michelle Rowland.Credit: Alex Ellinghausen

“We understand that the current situation particularly in the Middle East is deeply concerning to many Australians.

“We are also well aware that the ABC has been forthright in ensuring that its journalists have support, that it continuously improves itself with regards to support for its workforce and that all media organisations should seek to foster diversity in all its forms.”

‘Kim is someone who gets the ABC’: Who is Kim Williams?

Kim Williams is an Australian media executive and composer who was the chief executive of News Limited in December 2011 – which became News Corp Australia in July 2013.

Williams resigned in August 2013 amid reports his management style had alienated staff members and executives, including the Murdoch family.

Williams was also appointed a commissioner of the Australian Football League in February 2014.

Kim Williams will replace Ita Buttrose at the ABC. Credit: The Age

“Kim is someone who gets the ABC and he’s someone who understands instinctively what a national broadcaster can and should be, and I congratulate him on this decision that was made by the cabinet yesterday. I thought it was appropriate to [announce it] as soon as possible, to avoid ...speculation,” Albanese said.

Kim Williams announced as new ABC chair

Prime Minister Anthony Albanese has announced Kim Williams as the new chair of the ABC, replacing Ita Buttrose.

Speaking from Canberra, Albanese said Kim Williams has a “breadth of capacity” to bring to the role.

“We can’t take what the ABC is for granted. We need to cherish it and nurture it. It needs the right leadership,” he said.

“That leadership needs to come from a figure of trust talent and experience – someone who is as multifaceted as the national broadcaster – so it gives me great pleasure to introduce Mr Kim Williams, [who] we will recommend to the Governor-General to be the next chair of the ABC.”

Former prime minister Scott Morrison to begin US role in March

Steering away from stage 3 tax cuts for a moment, former prime minister Scott Morrison says history is what it is when it came to his decision to go to Hawaii during the Black Summer bushfires.

This masthead reported yesterday that Morrison will resign from politics to take a job in the corporate world when parliament returns in the first week of February.

Former Prime Minister Scott Morrison says his new US role will begin in March.Credit: Alex Ellinghausen

Speaking on Sydney’s 2GB this morning, Morrison confirmed he will be travelling to the US in March to begin his new advisory roles and positions on private boards.

“We’re travelling over to the US, that doesn’t start until March and in the meantime, it’ll give me a good opportunity to keep getting around local community here and just say thank you,” he said.

Asked if he regretted his decision to go to Hawaii during the 2019-20 Black Summer bushfires, Morrison said some people “made it pretty personal”.

“We were supposed to go down the South Coast in January, but I had to change those arrangements because we’d been invited for a state visit to India with Prime Minister [Narendra] Modi, so we tried to get something in before Christmas, now you know, history is what it is,” he said.

“Some people, you know, made it pretty personal.”

‘Mother of all broken promises’: Coalition slams Albanese

Shadow treasurer Angus Taylor has slammed the Albanese government over the tax reform, describing the decision as the “mother of all broken promises”.

Taylor accused Prime Minister Anthony Albanese and Treasurer Jim Chalmers of lying to the Australian public more than 100 times, and described the changes as a whole series of broken promises.

“If there was ever, ever a breach of promise, that’s the mother of all broken promises. This is it, this is it, it is an egregious betrayal of trust with the Australian people and the truth is that this prime minister’s word and this treasurer’s word means absolutely nothing,” Taylor told Sky News.

“It’s a major change. There were three stages to these tax cuts. They work together and meant that tax cuts go right across the spectrum and most importantly it’s about growing the economy, bringing inflation down.

“This prime minister has decided to declare war on aspiration and that’s the truth of this. Labor’s never believed in aspiration, they don’t like it.”

What are the changes to the tax cuts?

By David Crowe and Rachel Clun

The Albanese government has secured a cabinet decision to offer bigger tax cuts to workers who earn up to about $150,000 a year by amending the package.

The move will increase the tax gains for millions of workers by recasting the package when it starts on July 1 at a cost of $20.7 billion in its first year, with no change to the impact on federal revenue.

Prime Minister Anthony Albanese.Credit: Alex Ellinghausen

The income tax system now has four tax brackets: workers pay 19 per cent tax on annual earnings between $18,201 and $45,000, 32.5 per cent for earnings between $45,001 and $120,000, 37 per cent for earnings between $120,001 and $180,000, and 45 per cent for every dollar earned over that.

From July 1, under the stage 3 tax package, the 37 per cent marginal tax rate will be abolished for those earning more than $120,000 a year, and the 32.5 per cent tax rate will be reduced to 30 per cent for people earning between $45,000 and $200,000.

This original package offered a tax cut worth $1875 a year to a worker earning $120,000 but a more generous benefit of $9075 a year to a worker earning $200,000.

The changes will scale back the $9075 tax cut to bring it into line with the benefits offered to those on lower incomes, but sources within the government declined to release the details of those changes.

Good morning

Hello and welcome to our live blog on the stage 3 tax changes.

A lot has developed in a short space of time, the latest being Prime Minister Anthony Albanese cleared the way for a furious political fight over tax reform by securing a cabinet decision to offer bigger tax cuts to workers who earn up to $150,000 a year by amending the stage 3 tax package.

Federal ministers have been sworn to silence on the plans to be put to the Labor caucus in Canberra today after federal cabinet cleared the plan and the full federal ministry discussed tax reform and broader strategy in a six-hour meeting on Tuesday.

Today will likely have significant developments as the caucus meeting will be a launchpad for the Albanese government’s economic agenda .

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2024-01-23 21:38:20Z
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