QUESTIONS WITHOUT NOTICE

Senator GALLAGHER (Australian Capital Territory—Minister for Finance, Minister for the Public Service, Minister for Women, Minister for Government Services and Manager of Government Business in the Senate) (14:07): I thank Senator Ghosh for the question, and I acknowledge him as an important member of the team that constantly advocates on behalf of and fights for tax cuts for working Australians.

That's exactly what we will see on 1 July this week, when the Albanese government will deliver another tax cut to every Australian taxpayer this year, and then another one next year, adding to the first round that Labor delivered in July 2024. On 1 July this year, on Wednesday this week, we will have another tax cut. And from 1 July 2026, we will further reduce—well, this week—the 16 per cent tax rate to 15 per cent, including for those earning under $45,000.

Senator Chandler should be interested in that, even though they voted against them. And from 1 July 2027, the tax rate will be reduced further to 14 per cent. That is in addition, of course, to the very important reforms that passed this chamber last week.

All of these are designed to make sure that we are doing what we can to support Australians with those cost-of-living pressures. Our tax reform package was pro-aspiration, pro-worker, pro-investment. The working Australian tax offset will provide a permanent annual tax offset of up to $250 for every single working Australian taxpayer, automatically reducing tax liability on their income earned from working for the 2027-28 income year.

The $1,000 instant deduction, with no receipts required, from 2026-27, will allow workers to deduct up to $1,000 off their taxable income without receipts. And, of course, our changes to negative gearing, capital gains tax and trusts, which don't impact the majority of people, will help fund that tax relief for more than 13 million workers. The PRESIDENT: Senator Ghosh, first supplementary?