All SDA members to benefit: 1.2 million retail, warehousing and fast food workers better off under responsible tax cut proposal
In January 2024, the Albanese Government announced changes to planned tax cuts expected to take effect from 1 July.
If legislation passes to proceed with the proposed changes then every Australian taxpayer will receive a tax cut and therefore, have more take-home pay.
SDA members continue to share their experiences of having to make difficult decisions about how to get by – to pay the rent or bills and put food on the table.
This is an urgently needed measure for Australians who are struggling with the rising cost of living.
What is the new tax cut proposal?
Under the Albanese Government proposal, from 1 July this year all taxpayers will receive a tax cut.
This is a change from legislated Stage 3 tax cuts put in place by the previous Government which did not provide a tax cut for all workers.
Now 1.2 million workers across retail, warehousing and fast food will receive a tax cut if the proposal is put in place, according to the McKell Institute.
The SDA welcomes this responsible and considered proposal which would leave all SDA members better off – it is the right thing to do for workers and the economy.
What do the proposed tax cut changes mean for you?
Australia is facing a cost-of-living crisis and all hard-working retail, warehousing and fast food workers are feeling the pressure.
These proposed tax cuts are a response to changing economic circumstances which is causing serious financial pressure for Australians across the country.
The proposal will help put more money back in the pockets of more workers and provide some urgently needed relief.
What happens now?
In order for these proposed cuts to come into effect on 1 July this year, they must be legislated and pass through Parliament.
The SDA will be calling on all MP’s and Senators to support these tax cuts.
SDA members will be kept up to date with any developments about this proposal.
The SDA welcomes the Albanese Government taking action to address the hardship facing workers during difficult economic circumstances.
Additionally, the SDA also urges employers to also do their part to address the cost-of-living crisis by providing fair and reasonable wage increases to their employees.