The Wire

Anthony Albanese has come under fire after breaking an election promise to uphold the stage 3 tax cuts legislated some years ago.

Under these new tax changes people earning over $180,000 in the top tax bracket who would have received around a $9000 reduction on their tax return, would get around a $4000 reduction instead.

It also adds back in another 37% tax bracket which had been eliminated to ameliorate bracket creep.