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Speaker 1: Prime Minister Anthony Albaneze is expected to turn his back

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Speaker 1: on a key promise he made to win the federal

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Speaker 1: election when he seeks permission from his caucus today to

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Speaker 1: overhaul the government's long agreed Stage three tax cuts. Channel

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Speaker 1: seven's Bend Downey is in Canberra and he joins us Now, Hello, Ben,

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Speaker 1: We've been.

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Speaker 2: Crazy last thy good morning.

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Speaker 3: Are you good?

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Speaker 1: What a surprise are weneck on taxi? You know promises

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Speaker 1: some might favor the prize.

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Speaker 3: I think a lot of people probably saw this coming

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Speaker 3: in the middle of the cost of living crisis. I

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Speaker 3: don't think the Prime Minister is even expected to argue

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Speaker 3: that he has broken his promise. He'll except that it

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Speaker 3: is one but done for what he believes to be

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Speaker 3: the right reasons.

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Speaker 2: The changes aren't.

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Speaker 3: Set out and stone yet, but what we expected to

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Speaker 3: be is giving more of the money billions of dollars.

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Speaker 3: In fact, it was originally slated to go to those

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Speaker 3: earning one hundred and eighty thousand dollars, two hundred thousand dollars.

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Speaker 2: And more be put back towards.

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Speaker 3: Middle Australians and someone the low income people earning between

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Speaker 3: eighteen thousand dollars up to about one hundred and twenty

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Speaker 3: thousand dollars. They will receive the line's share of the

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Speaker 3: word of the line shed a much more greater amount

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Speaker 3: of money than they otherwise would have. And that's going

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Speaker 3: to take the election. And it's what the oppositions are

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Speaker 3: going to, you know, prime to attack him on, saying

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Speaker 3: that he's broken the key promise and believing that anti

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Speaker 3: Albanezi can no longer be trusted.

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Speaker 4: Yeah, I mean these tax cuts who originally you know,

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Speaker 4: it was a long time ago. Now it's only sixty

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Speaker 4: years ago talked about. Now we're trying to sort of

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Speaker 4: tackle bracket creepers, which is, you know, when people's wages

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Speaker 4: don't match up with the rise of inflation in that bend.

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Speaker 4: But are there are there any losers in the proposed

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Speaker 4: changes now to the legislation?

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Speaker 3: Mate? Yeah, So while the way these proposed changes are

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Speaker 3: going to work is that even though people on he

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Speaker 3: might be earning more than the one hundred and thirty

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Speaker 3: five thousand dollars that whether the tax cut going to

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Speaker 3: now be put in, they're still going to be getting

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Speaker 3: a cut in some way.

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Speaker 2: Everyone is still going to be getting a cut.

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Speaker 3: Okay, So those who are earning more than a fifty

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Speaker 3: thousand dollars who are going to be getting a smaller

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Speaker 3: cut than they otherwise would have. Everyone perhaps two hundred

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Speaker 3: thousand dollars who would have been looking at a nine

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Speaker 3: thousand dollars return now might be looking at sort of

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Speaker 3: six thousand dollars, seven thousand dollars.

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Speaker 2: Maybe even less.

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Speaker 3: But they're still going to be getting a cut, but

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Speaker 3: less than they otherwise would have.

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Speaker 1: So when can people expect they're going to feel it?

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Speaker 1: Will it be in each monthly pay after the middle

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Speaker 1: of this year.

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Speaker 3: Yeah, So unlike previous years when there have been rebates

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Speaker 3: and refunds added to your annual tax refunds, not going

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Speaker 3: to happen like that this time because obviously the government's

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Speaker 3: trying to avoid inflationary.

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Speaker 2: Things, things like the lack of the stimulus. That is

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Speaker 2: what we want. The way they'll notice it is in

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Speaker 2: your paypack.

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Speaker 3: It's going forward, you'll just have more money going into

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Speaker 3: your bank than would otherwise have been being taken away intact.

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Speaker 3: So it's going to be a steady drift of money.

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Speaker 3: You're not going to get a lump done payment or

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Speaker 3: anything like that, but you will be better off and

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Speaker 3: especially at a time when the willing is such a

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Speaker 3: difficult problem.

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Speaker 1: Yeah, that's how you want it. You want it each month.

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Speaker 1: If it's a cost of living people bak TV and

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Speaker 1: goes up at the end of the year.

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Speaker 4: Yeah, so we're starting in a new financial year. First

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Speaker 4: of July might have been in each each month's pay

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Speaker 4: or fortnightly.

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Speaker 2: Yeah, that's right, first of July.

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Speaker 3: And you've got to remember as well, this is this

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Speaker 3: stage three of the tax cuts. People in like middle

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Speaker 3: incomes have already received Stage one and two. That's what

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Speaker 3: these taxes were designed to help people out. But in

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Speaker 3: the time between when stage two has come into effect

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Speaker 3: and stage three has come into effect, we've had the pandemic,

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Speaker 3: and we've also had information crisis with the war in

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Speaker 3: Ukraine and other things creating problems. So as circumstances changed

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Speaker 3: and the alb and Easy believes he can put the

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Speaker 3: argument to the electorate that the policy he is now

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Speaker 3: breaking his promise and has to also change.

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Speaker 1: It was always intended also to just make the tax

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Speaker 1: system a bit simpler. Has it still met that brief Ben.

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Speaker 3: It's not going to make it in thing which is

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Speaker 3: there might be what a lot of people want to hear.

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Speaker 3: One original plan of stage three was to flatten a bracket,

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Speaker 3: so everyone earning between forty thousand dollars all the way

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Speaker 3: up to I think it was about one hundred and

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Speaker 3: eighty thousand dollars they were going to be getting thirty percent.

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Speaker 2: Just flatten that entire period out. That's no longer happening.

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Speaker 3: What's going to be happening now is you'll be earning

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Speaker 3: thirty two from that sort of forty odd bracket up

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Speaker 3: to about one hundred and thirty five. You'll be earning

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Speaker 3: sort of thirty two cent ins all, but the thirty

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Speaker 3: seven cents in the dollar tax bracket will remain where

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Speaker 3: otherwise is going to be strapped, meaning you'll be paying

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Speaker 3: more money to frame more tax than any money you

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Speaker 3: earn over one hundred and thirty five thousand dollars and

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Speaker 3: you otherwise would have under the prior arrangement. So still

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Speaker 3: a bit complex, Yeah, of course.

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Speaker 4: Bracket Yeah complex know there Prome Ministic is going to say,

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Speaker 4: the people are going to say, you know, the election

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Speaker 4: promise is broken, but do the limbs get full am

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Speaker 4: out of this or because it's the heartlight of Australian

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Speaker 4: getting a bit of a relief financial then you may

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Speaker 4: be forgiven.

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Speaker 3: Well, put it this way, there are around four to

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Speaker 3: five percent of Australia's workforce earning more than one hundred

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Speaker 3: and fifty thousand dollars one hundred and fifty thousand dollars

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Speaker 3: when you'd be worse off. So now that he's made

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Speaker 3: the calculation, well, I'm going to go for the ninety five.

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Speaker 2: Percent of the workforce.

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Speaker 3: It's still going to be better off under this new

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Speaker 3: plan and the old plan that you know, he's daring

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Speaker 3: the opposition to attack him on this. He's trying to

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Speaker 3: frame this as you know, we're trying to do the

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Speaker 3: best for the people who are doing a tough middle Australia,

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Speaker 3: low income owners, if you know, Shadow Treasure, Angus Taylor

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Speaker 3: and Peter Dunn want to make the case that people

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Speaker 3: earning over one hundred and eighty thousand dollars should be

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Speaker 3: receiving more of a tax cut.

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Speaker 2: I think Prime and is still be happy to have

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Speaker 2: that amount.

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Speaker 4: Yeah, he is thearing you're getting day get in the

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Speaker 4: ring on that one. Yeah, all right.

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Speaker 3: The opposition, it will be said, I will just finish

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Speaker 3: at one point, get the opposition that they will say that,

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Speaker 3: you know, whatever, every avenue he says now he can't

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Speaker 3: be trusted because he has broken this promise. So that'll

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Speaker 3: be competing narratives that are We're going in towards the

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Speaker 3: next that's.

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Speaker 4: Politics, isn't it Okay?

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Speaker 1: Indeed it is. That's so much fun. Ben, Thank you

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Speaker 1: very much, all the all the details after this all

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Speaker 1: goes to caucus tonight on Channel seven.

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Speaker 2: Thanks Ben.

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Speaker 4: Good to talk to you from can