The Albanese Government has tried to hide its decision to axe the low and middle income tax offset (LMITO) while Australians were out enjoying their Easter break.

Shadow Treasurer Angus Taylor said LMITO was designed to provide targeted relief to low and middle income earners when they needed it most. Labor has tried to bury its decision to cut the offset and is not being upfront with Australians.

“This decision will put even more pressure on everyday Australian families struggling to keep up with the rising cost of living,” Mr Taylor said.

“10 million low and middle income Australians will be impacted by this change. It means people earning under $126,000 a year will have up to $1500 less in their pockets.

“This comes on top of higher mortgages repayments, surging energy bills and soaring grocery prices.

“This just another sign Labor’s first instinct is to tax Australians more rather than manage its own spending.

“We know low and middle income earners are already hit the hardest by higher prices and rising interest rate rises.

“Low and middle income earners will join millions of pensioners, self-funded retirees, Australian mortgage holders and renters paying for Labor’s failure to rein in its own spending to bring down pressure on prices, and its broken promises on superannuation and franking credits taxes.

“Anthony Albanese promised Australians he had a plan to address the cost of living crisis but since the election life has only become harder for families. 

“Budgets are about priorities. In office the Coalition always found the money to support low and middle income earners through tough times whether it was during the pandemic or as part of our last budget.

“In our last budget we provided targeted cost of living relief through the cut to the fuel excise, through reductions in the price of medicines and through the LMITO that Treasury confirmed was not inflationary. 

“Higher taxes are in Labor’s DNA. Labor wants to take away the stage three tax cuts. Labor has broken promises on tax already, there is every chance stage three will be next on Labor’s chopping block.

“It’s become clear Labor’s only solution to the cost of living crisis is to break promises and raise taxes.” 

ENDS.