Aussies will soon have more money in their pockets – it’s time for brands to react
On Tuesday night, Labor’s stage 3 tax cuts passed the Senate unamended, after previously passing the House of Representatives. Mumbrella’s Lauren McNamara looks at how brands and marketers should be reacting to the overhaul.
Labor’s proposed stage 3 tax cuts are set to become law on July 1, 2024, after passing the House of Representatives and, on Tuesday night, passing the Senate. The changes aim to bolster lower to middle-income owners, putting more money in the pockets of average Australians – but what does this mean for brands and marketers?
While the tax cuts will not solve the cost-of-living crisis, Prime Minister Anthony Albanese hopes it will ease the minds of Australians and alleviate the current cost-of-living pressures. Average Australians are struggling to pay for groceries, heat in the winter and basic everyday essentials, so ultimately, the Prime Minister says he just wants to provide some form of financial relief to his people.
Anthony Albanese
