Cost of Australia’s Tax Cuts to Increase by $11 Billion

Cost of Australia’s Tax Cuts to Increase by $11 Billion
Treasurer Jim Chalmers at a press conference at Parliament House in Canberra, Australia, on July 20, 2022. AAP Image/Mick Tsikas
Alfred Bui
Updated:

Australian Treasurer Jim Chalmers has said that the cost of the stage three tax cuts could reach over $250 billion (US$158 billion) as the government is trying to strike a balance in the federal budget.

According to new estimates, the tax cuts would reduce the government’s tax revenue by $254 billion over a ten-year period, an increase of $11 billion compared to the previous forecast by the budget office.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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