Conservative Party leader Cory Bernardi says he will support the Morrison government’s tax cut package in its entirety, with the Coalition’s first priority to bed down the tax and spending measures outlined in the April 2 budget.
The Australian reports, Treasurer Josh Frydenberg argues his promised tax cuts are still on track, even if the parliament does not return before June 30.
A $530 tax offset from July 1 in last year’s budget has been legislated.
This year’s budget extended the tax offset to $1080 for low and middle-income earners, with the offset scaled back to zero for people on $126,000.
The Treasurer yesterday said passing into law the tax offset was the Coalition’s top priority as soon as the parliament resumes.
The typically obstructionist Greens signalled they’d try to block the budget’s measures that extend tax cuts via three stages and are worth $302 billion over 10 years.
Under a proposed flattening of the tax scales from 2024, 94 per cent of workers will pay a marginal rate of no more than 30c in the dollar.
In any case, if the $1080 offset is not passed before the end of next month, the Australian Taxation Office has said the tax cuts could still take effect through administration.
Senator Bernardi told Ali Clarke and David Bevan on ABC Radio Adelaide this morning, he would back even deeper cuts to taxes.