CANBERRA, ACT, June 25 -- The Treasurer of Australia issued the following media release:
The first Bill of the Albanese Labor Government's ambitious tax reform package has just passed the Parliament and will become law.
This is a victory for workers, first home buyers and future generations.
The Bill that has passed today will help ensure aspiration and opportunity are the birthright of every Australian, not just some.
Today we have locked in two more rounds of income tax cuts for millions of Australians, a fair go for first home buyers, and a fairer tax system that better aligns the treatment of labour and asset income.
The Bill includes tax cuts in the form of the Working Australians Tax Offset and the instant tax deduction for worke...