Treasurer Jim Chalmers will hand down Labor’s third budget on May 14. Here are all the spending measures we know about so far.
will hand down Labor’s third federal budget on May 14, promising cost-of-living relief to struggling householders while delivering a second consecutive surplus.
. Under the changes, someone on $50,000 will receive a $929 tax cut, up from $125, while earners on $90,000 will have their tax cut increased from $1125 to $1929. People earning $160,000 will have their cut reduced from $4675 to $3729. The federal and Queensland governments are each contributing $470 million through share purchases, grants and loans.More than $330 million will go to some of Australia’s richest firms – including Rio Tinto, Wesfarmers, Swiss giant Glencore and Rich Lister Dick Honan’s Manildra Group –
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