Labor vexed over Coalition tax plan that benefits the wealthy

Australia Institute finds more than 50% of the benefit of cuts after 2024-25 will go to the top 20% of taxpayers

A new analysis says high-income earners are the overwhelming beneficiaries of the income tax cuts promised by the Morrison government after 2024-25, with more than 50% of the benefit going to the top 20% of taxpayers.

As Labor continues to mull whether or not to support stages two and three of the Coalition's tax plan, the new work from the progressive thinktank the Australia Institute to be released on Friday underscores previous analysis indicating the benefits of the latter phase of the tax cuts flow to high-income workers.