Australia PM to introduce bill to reshape tax cuts on Tuesday

Australia’s Prime Minister Anthony Albanese said on Sunday his government would legislate changes this week to planned tax cuts set to reduce benefits to the wealthy while giving low-income earners more breaks, as Australians endure higher living costs.
“We’ll release the actual legislation later today it will be introduced into the parliament on Tuesday,” Albanese told the Australian Broadcasting Corp.
He said he wanted the bill passed “during this existing session” of federal parliament, which resumes on Feb. 6.
The new policy, recently announced, will see people earning up to A$135,000 fall into lower tax brackets from July 1. For some high-income earners tax breaks will nearly halve, with the savings redirected to those on low incomes.