Find out how the new tax cuts in the federal budget will affect you

It was the biggest headline from Labor’s federal budget on Tuesday: new tax cuts for all taxpayers.

From July 1, 2026, the tax rate for the lowest tax bracket will be cut from 16 per cent to 15 per cent.

That’s one cent less for every dollar you earn between $18,201 and $45,000.

Then, on July 1,…