Over the past few years, people across Bennelong have told me that the cost of living remains one of their biggest challenges. Whether it’s paying the mortgage, covering the weekly grocery bill, or managing household expenses, many families are feeling the pressure.
That’s why the Albanese Labor Government has delivered another round of tax cuts to help workers keep more of what they earn. Millions of Australian taxpayers will benefit from lower taxes. These tax cuts build on previous cost-of-living relief and are designed to put more money back into your pocket each year.
While there is always more to do, these tax cuts are another step towards easing financial pressure on households across Bennelong and around Australia.
Use the calculator below to estimate how much you could save and see what the new tax rates mean for your income.
Estimate tax cuts for salary and wage earners | Budget 2026–27
Calculate your tax cut from 1 July 2024
Over the past few years, locals in Bennelong have been telling me that they are under cost-of-living pressure. They wanted the Labor government to do more to support them.
I’m happy to report that the Government has listened. There is more to do, but I thought I’d share with you progress on this important issue. Taking the pressure off you and your family is my number one priority.
From 1 July, every taxpayer in Bennelong will receive a tax cut. No matter who you are or what you earn – you will pay less tax. Please refer to the Tax Calculator below to see how much you’ll save from July 1 2024.
Our tax cuts will also make the tax system fairer. If you earn up to almost $150,000 you will get a bigger tax cut under Labor than under Petter Dutton and the Liberals.
I’m proud to be part of a Government that delivers real cost-of-living relief to families in Bennelong and every community across the country.
Calculator below will let you know what your tax cut will be from 1 July -Source: ( https://www.abc.net.au/news/2024-01-25/stage-three-tax-cut-calculator/103387580 )