CANBERRA, ACT, June 1 -- The Treasurer of Australia issued the following media release:

The Albanese Labor Government is delivering another tax cut for every Australian taxpayer in onemonth from today.

We're putting more money back into millions of Australians' pockets.

From 1July, over 14million Australians will get another tax cut of up to $268.

This is on top of the tax relief we've already delivered since coming to government.

This is the next step in our plan to reduce the average worker's income tax by up to $2,816 a year from 2027-28.

In every state and territory, more people will receive Labor's tax cut from next month:

* Around 4.4million taxpayers in New South Wales* Around 3.7million taxpayers in Victoria* Around 2.9million taxpayers in Queensland* Around 1.6million taxpayers in Western Australia* Around 1million taxpayers in South Australia* Around 300,000 taxpayers in Tasmania* Around 300,000 taxpayers in the ACT* And around 130,000 taxpayers in the Northern Territory

Younger Australians make up the largest share of those who benefit, with over eightmillion GenZ and Millennial taxpayers receiving a tax cut - roughly 60percent of all recipients.

Lower income taxes are central to our economic plan, which is all about providing immediate cost of living relief while also addressing longer‑term challenges.

The Budget handed down last month included a new Working Australians Tax Offset of up to $250 from the 2027-28 tax year.

We are also introducing a new $1,000 instant tax deduction for the 2026-27year.

It means we are cutting taxes five times, in three different ways:

* A new tax cut on 1July 2026* Another tax cut on 1July 2027* Our existing Cost of Living Tax Cuts that took effect in 2024* The $250 Working Australians Tax Offset* The $1,000 instant tax deduction

Together, these tax cuts will mean the average worker benefits by up to $2,816, compared to 2023-24 tax settings.

The Coalition voted against the new tax cuts coming in next month and next year.

If the Liberals and Nationals had won the last election, income taxes would be higher from 1July this year and higher on 1July next year.

They have also been clear that they plan to vote against our $250 Working Australians Tax Offset and $1,000 instant tax deduction which are currently before the Parliament.

Labor is getting on with the job of cutting income taxes and making the tax system better and fairer.

Disclaimer: Curated by HT Syndication.