Hi Friend,

At the recent election, voters were offered a clear choice between Labor's higher taxes and our plan for lower taxes.

This week we are putting before Parliament the plan we took to the election. 

Our plan delivers immediate relief for low and middle income earners. It also fixes bracket creep – the silent thief pushing workers into higher tax brackets. 

By the time our plan is fully implemented, 94% of taxpayers will pay a top marginal rate of no more than 30 cents in the dollar. This compares to just 16% of taxpayers, if our reforms are not implemented. 

Our plan is affordable and phased in responsibly over five years. It rewards and encourages hard work.

Labor will readily commit to spending programs that run for decades. Yet they play politics when it comes to letting Australians keep more of their money.

As Labor frontbencher Joel Fitzgibbon admits: “you can’t deny punters a tax cut from Opposition, particularly so soon after an election in which we got our backsides kicked”.

Or in the words of former Labor Minister, Graham Richardson, Labor’s approach is “completely and utterly stupid”. 

Australians voted for lower taxes. The time has come for our tax relief plan to be delivered.

Kind regards,

Josh Frydenberg
Treasurer