Sky News Political Editor Andrew Clennell explains how Australians will be affected by the Prime Minister’s changes to the third phase of tax cuts. He revealed on Wednesday that the once-promised new high-income limit of $200,000 would be reduced to $190,000, leading to lower tax cuts for those Australians. Under the new tax band, Australians earning more than $190,000 will get $4,418 less than they would have received under the original stage three tax cuts. However, Australians earning between $45,001 and $135,000 will be $932 better off under the new cuts. The Prime Minister vowed several times in the run-up to the last election that he would stick to the third phase of the former coalition government’s tax cuts. He is expected to give further details of the changes at the National Press Club on Thursday.
<!-- wp:html --><p>Sky News Political Editor Andrew Clennell explains how Australians will be affected by the Prime Minister’s changes to the third phase of tax cuts. He revealed on Wednesday that the once-promised new high-income limit of $200,000 would be reduced to $190,000, leading to lower tax cuts for those Australians. Under the new tax band, Australians earning more than $190,000 will get $4,418 less than they would have received under the original stage three tax cuts. However, Australians earning between $45,001 and $135,000 will be $932 better off under the new cuts. The Prime Minister vowed several times in the run-up to the last election that he would stick to the third phase of the former coalition government’s tax cuts. He is expected to give further details of the changes at the National Press Club on Thursday. </p><!-- /wp:html -->