Address to the House of Representatives, Statements by Members - Taxation, Wages

Tuesday 25 June 2024

Six, 82,000 and 1,800. What do these numbers have in common? In six sleeps, some 82,000 taxpayers in Bean will receive an average tax cut of $1,800. On 1 July, every Australian will receive a tax cut under this government. No matter who you are, this Albanese Labor government will make sure you pay less tax. We understand that family budgets are under pressure right now, and taking that pressure off family budgets is our No. 1 priority.

This is not the only change that will come into effect. On 1 July, some 2.6 million workers on the modern award minimum wage will see their pay increase by 3.75 per cent. With the Fair Work Commission decision, real wages for low-paid workers don't go backwards. National minimum wage earners in Australia will now be paid $24.10 per hour, which is an extra $33.10 per week and an additional $1,721 per year. After a decade of deliberate wage stagnation and suppression under the coalition, under Labor, real wages are growing again. Under this Albanese Labor government, more Australians are working, more Australians are earning more and more Australians will keep more of what they earn.