Many Australians lodging their tax returns over the next few weeks will find themselves more than $1000 richer after parliament passed the Morrison government's signature tax cut package.
The government secured the crossbench support it needed to pass the $158 billion plan unchanged through the Senate on Thursday evening.
AAP
The first stage of the tax plan will deliver up to $1080 to low and middle-income earners when they lodge their tax returns for 2018/19.
The second stage delivers a 19 per cent tax rate from 2022/23 to people earning up to $45,000.
The final stage due in 2024/25 flattens the tax rate to 30 per cent for people earning between $45,000 and $200,000.
Opposition Leader Anthony Albanese and shadow Treasurer Jim Chalmers speak to the media.
AAP
Labor tried in vain to amend the bill to strip out the third stage and deliver the second stage sooner.
But the opposition voted in favour of the legislation, which passed 56 votes to nine, arguing it wouldn't oppose tax cuts for workers.
Independent senator Jacqui Lambie backed the full package in return for action on Tasmania's homelessness crisis.
<br>She wants Tasmania's $157 million public housing debt be wiped or renegotiated, but is still ironing out a deal after supporting the cuts.<br><br><br><br>"I believe the government is coming from [a place of] good faith. I can tell you. I've been fighting to get this public housing debt removed since day one, from the first day I came up here," Ms Lambie told SBS News on Thursday. <br><br>"[It's] not a great deal of money for the Commonwealth in the big scheme of things … I've seen them waste that sort of money."<br><br>"It's not going to solve all the problems but right now I need to get those kids off the streets."<br><br>
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