Labor’s tax cuts pass Senate as Dutton promises fuel relief
Make us a preferred source
Make us a preferred source on Google
The news: Labor’s surprise tax cuts have passed the Senate without Coalition support, as Peter Dutton countered with a $6 billion promise to slash fuel excise by 25¢ a litre for a year.
Labor's bill passed in a late night sitting Wednesday with the support of the crossbench but no debate and no support from the Coalition, the ABC reported. The legislation had passed the House of Representatives earlier in the morning, with the support of the Greens and independents.
Finance Minister Katy Gallagher told the Senate the Coalition was “saying no to everything” and had “voted no to tax cuts for every taxpayer.”
The Opposition called the policy a “hoax” and a pre-election “bribe,” with Shadow Treasurer Angus Taylor describing it as a “70c a day tax cut in 15 months time.”
The late night sitting also saw the passage of bills extending $20,000 instant asset write-offs and the fee-free TAFE policy, according to the ABC.
The numbers: Revealed in Tuesday night’s federal budget, the measure means about 12 million workers will take home up to $268 extra next year and $536 the year after that.
The cuts will cost the budget approximately $17 billion.
Dutton announced his own cost of living relief late on Wednesday night, promising cheaper petrol by halving the fuel excise.
He pledged to cut fuel excise by 25¢ a litre for one year, offering $6 billion in immediate cost-of-living relief that he said would deliver bigger short-term savings for most consumers than Labor’s income tax cuts.
The context: Dutton’s move is designed to counter Labor’s $17 billion tax cuts and reposition the Coalition ahead of an expected election announcement as soon as Friday.
He argues his plan provides faster and more meaningful help than Labor’s tax change, and says it will ease broader economic pressures through lower transport and business costs.
"Our plan will save many hundreds of dollars for families across Australia," Dutton said. "If elected, we will deliver this cost of living relief immediately — whereas people have to wait 15 months for Labor's 70-cents-a-day tax tweak.”
