4th Jul 2019 – Senate Treasury Laws Amendment (Tax Relief So Working Australians Keep More of Their Money) Bill 2019 - in Committee - Bring forward lifting tax bracket

The majority voted against an amendment introduced by ACT Senator Katy Gallagher (Labor), which means it failed.

Senator Gallagher explained that:

This amendment seek to bring forward one element of stage 2 of the government's tax package. I have spoken in my second reading speech about this. Briefly, it recognises that the economy needs a boost now, so it supports stage 1 of the tax cuts. It ensures that there is a tax cut for every worker in this parliamentary term. It is responsible in the sense that, yes, it will cost more in the short term. We are aware that the government is forecasting a surplus of just over $7 billion. Bringing forward the lifting of the tax bracket from $90,000 to $120,000 in this financial year would have a budget impact in the order of $3.6 billion, but it would certainly—based on the current projections of the government and the Treasury—ensure that there was a surplus maintained. It is being responsible. It ensures that there is a tax cut for every worker in this parliamentary term.