The Albanese Government has tried to hide its decision to axe the low- and middle-income tax offset (LMITO) while Australians were out enjoying their Easter break.
LMITO was designed to provide targeted relief to low- and middle-income earners when they needed it most.
Federal Member for Flynn, Colin Boyce said that Labor has tried to bury its decision to cut the offset and is not being upfront with Australians.
“This decision will put even more pressure on everyday Australian families struggling to keep up with the rising cost of living,” Mr Boyce said.
“Some 10 million low- and middle-income Australians will be impacted by this change. It means people earning under $126,000 a year will have up to $1500 less in their pockets.
“This comes on top of higher mortgages repayments, surging energy bills and soaring grocery prices.
“Superannuation taxes, franking credits, income tax, carbon tax 2.0 who knows where Labor is going to go next, but the one thing we do is that Labor loves to try to solve every problem by taxing Australians more.
“We know low- and middle-income earners are already hit the hardest by higher prices and rising interest rate rises.
“Low- and middle-income earners will join millions of pensioners, self-funded retirees, Australian mortgage holders and renters paying for Labor’s failure to rein in its own spending to bring down pressure on prices, and its broken promises on superannuation and franking credits taxes.
“Anthony Albanese promised Australians he had a plan to address the cost-of-living crisis but since the election, life has only become harder for families.”