Budget 2025: From 16 to 14 Percent—Labor Unveils New Tax Cuts in Time for Election

Treasurer Jim Chalmers also announced a crackdown on non-compete clauses to free up low-middle income workers.

Australian Treasurer Jim Chalmers delivers his fourth federal budget at the Parliament House in Canberra, Australia on March 25, 2025. David Gray/AFP via Getty Images

Treasurer Jim Chalmers has announced two more tax cuts for the lowest tier of income earners in Australia as the government gears up for the federal election in a few weeks.

Chalmers unveiled the surprise policy during his final budget for this term on March 25.