The true cost of stage three tax cuts is political
When the federal treasurer was putting together his first two budgets, he requested extra detail about the controversial stage three tax cuts.
In the lead-up to both of the last two federal budgets, Treasurer Jim Chalmers has directed his department to produce updated costings for the “stage-three” tax cuts that were legislated under the Morrison government.
On each occasion, Chalmers then publicly disclosed the total cost, which came in at $308.7 billion heading into the May budget.
Treasury documents, obtained by Capital Brief under Freedom of Information laws, show the treasurer was also provided a detailed yearly breakdown of the cost of these cuts.
A spokesperson for the Treasurer told Capital Brief it wasn't "unusual" for governments to periodically seek updated costings. They also said the policy on stage three — which is due to kick in for 2024-25 as legislated — hasn't changed.
