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Tuesday, 11 October 2016
Page: 1526

Senator CORMANN (Western AustraliaMinister for Finance and Deputy Leader of the Government in the Senate) (18:56): I do not agree with your characterisation of our measures. What is in front of the Senate is a proposal to increase the threshold for the relevant marginal tax rate from $80,000 to $87,000. The purpose here is to ensure that the average full-time wages of Australians will not move into the second-highest marginal tax rate. This is all part of an incentive for people to work harder and earn more, without being penalised by an increased overall tax burden. This is part of our broader tax reform agenda, which is designed to strengthen growth and create more jobs.