Overview
- Opposition Leader Angus Taylor, in Thursday’s budget reply, pledged to index income tax thresholds from 2028 with an initial four‑year cost of $22.5 billion under a “tax back guarantee.”
- The plan would start with the two lower brackets in 2028–29 and extend to the top two in 2031–32 to curb bracket creep, which is when inflation pushes workers into higher tax bands.
- Taylor also vowed to tie net overseas migration to the number of homes finished each year and foreshadowed one of the biggest intake cuts, while holding off a precise target until closer to the election.
- He promised to restrict access to 17 welfare payments and the NDIS to citizens, with current permanent residents grandfathered, as migrant advocates noted many new arrivals already face multi‑year waits for benefits.
- Labor on Friday released PBO‑based costings putting the indexation price at $35 billion over four years and alleging a $12.5 billion shortfall, as business groups warned against deep skilled‑migration cuts and asked for a clear funding plan; the Coalition also vowed to repeal Labor’s new property tax settings, which are grandfathered and have divided experts on effects for prices and housing supply.