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"Pittance compared to inflation": Working Australians to get tax cut under new Budget

Author
Newstalk ZB,
Publish Date
Wed, 13 May 2026, 8:42am
Australian Treasurer Jim Chalmers delivers the 2026-27 Federal Budget at Parliament House on May 12, 2026 in Canberra, Australia. The Labor government's budget for 2026 focuses on cost-of-living relief, housing affordability, and defence spending, as Treasurer Jim Chalmers faces pressure to deliver economic stability ahead of a federal election cycle. (Photo by Hilary Wardhaugh/Getty Images)
Australian Treasurer Jim Chalmers delivers the 2026-27 Federal Budget at Parliament House on May 12, 2026 in Canberra, Australia. The Labor government's budget for 2026 focuses on cost-of-living relief, housing affordability, and defence spending, as Treasurer Jim Chalmers faces pressure to deliver economic stability ahead of a federal election cycle. (Photo by Hilary Wardhaugh/Getty Images)

"Pittance compared to inflation": Working Australians to get tax cut under new Budget

Author
Newstalk ZB,
Publish Date
Wed, 13 May 2026, 8:42am

It's unclear if the Australian Government's latest tax breaks for workers will make much of a difference.  

The Labor Government's raising taxes on investment properties and some trust funds to pay for a $250 tax break. 

It will apply to 13 million Australians and come into effect in 2028. 

9News Chief Political Editor Charles Croucher told Mike Hosking it's on top of similar tax breaks coming this year and next year. 

He says it's giving some relief to that tax-bracket but it's a pittance compared to current inflation and interest rates.  

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