The Brotherhood of St. Laurence (BSL) welcomes the Federal Government’s decision to amend the Stage 3 tax cuts to make them fairer and more inclusive.
The circumstances impacting Australia’s economy have changed dramatically since the initial income tax reforms were legislated in 2019.
The impacts of the pandemic, high inflation and cost-of-living pressure have been most acute for Australians who earn the least.
Through our work, which stretches from the early years to supporting older people in the community, we hear about people choosing between food and medicine, cancelling insurance, and asking landlords for permission to pay rent late.
We are seeing people access support services who have never needed to ask for help before. Recent ABS data shows more people are now delaying seeing a doctor because of cost-of-living pressures. Lower-income households have been struggling through this precarious economic situation for too long.
The Federal Government has listened to feedback from across the community. The changes proposed will promote greater equality and support for Australians who are doing it toughest.
They will provide greater incentives for workforce participation, helping Australians to overcome barriers to employment and broaden opportunities.
We commend the decision to change course of the Stage 3 tax cuts. This is an important step in making the Australian tax system more equitable. We hope it generates a sharper focus across the Federal Parliament on what can be done to reduce poverty and grow prosperity for all.
