Labor's stage three tax cut changes a ‘ticking time bomb’

Eminence Advisory Dimitri Burshtein says the Albanese government's decision to reform the stage three tax cuts is just a “ticking time bomb”. The Prime Minister broke a key election promise and decided to change the former Coalition government's stage three tax cuts. “They're just reinserting the 37 per cent tax bracket and it will just result in those low to middle wage earners being kicked into the higher tax bracket or higher tax brackets along the way,” Mr Burshtein told Sky News host Chris Kenny. “This tax change that’s been proposed by the government isn’t allowing people to keep more of their money, they're taking money. “This is actually a tax increase for a large cohort of people.”