Labor yet to decide on tax cuts: Albanese

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Opposition Leader Anthony Albanese insists Labor has yet to make a decision to retain the so-called stage three tax cuts should it win the next election, despite media reports to the contrary.

The legislated cuts due to begin in 2024 lower the 32.5 per cent and 37 per cent marginal tax rates to 30 per cent and flatten the tax structure for people earning between $45,000 and $200,000.

They were bundled together with other tax changes that passed parliament in 2019.

Mr Albanese said he had seen media reports of a shadow cabinet meeting “that hasn’t taken place”.

“We will make the decision at an appropriate time,” Mr Albanese told reporters in Brisbane on Tuesday.

“We will make our announcements after we do deliberations.”

A decision to overturn the tax cuts would be a key point of difference between the two major parties heading into the federal election due in the next year.

Mr Albanese said recent discussions of the shadow cabinet have been focused on the pandemic.

“But I will say this – Australians will always be better off under Labor,” Mr Albanese said.

“What we know is we have a prime minister who last week suggested that (locked-down) Australians didn’t need economic support because they have a buffer.”

His comments came just hours before Prime Minister Scott Morrison is due to announce another package of support measures for people in New South Wales during what is likely to be a prolonged COVID-19 lockdown.

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