The Turnbull Government tonight voted against giving 10 million Australians more money in their pockets through bigger, better and fairer income cuts

Labors Tax Refund for Working Australians means everyone earning less than $125,000 a year will receive a bigger tax cut under Labor compared to the Liberals. More than four million people will be better off by $398 a year compared to the Liberals.

This vote highlights that Turnbulls pursuit of $80 billion in tax cuts for big business is coming at the expense of family budgets. The Turnbull Government continues to hurt working Australians who are struggling with sustained low wages growth.

Labor tonight voted to deliver bigger, better and fairer tax cuts for 10 million working Australians. The Liberal Party opposed that.

Labor tonight voted to split the Governments legislation and separate out the tax cuts that occur over the next four years from those that occur in 2022 and 2024. The Liberal Party opposed that.

Labor tonight urged the Turnbull Government, again, to provide year-on-year costs over the medium-term of the seven year tax cut plan. The Liberal Party refused to release it.

Scott Morrison at the eleventh hour provided some information on the different stages of the plan, including:

• The Low and Middle Income Tax offset (LMITO) costs $11.650 billion over the forward estimates and $15.9 billion over the medium-term;
• Increasing the tax threshold at $87,000 to $90,000 costs $1.75 billion over the forward estimates and $6.45 billion over the medium-term;
• Steps 1 and 2 of the Personal Income Tax Cut Plan will together cost $102.350 billion out of the total package cost of $143.950 billion over the medium-term
• This information means that stage three of the income tax cuts is around $40 billion

The Treasurer still refuses to provide the year-on-year costs of this package over the medium-term. We know the information exists, because the Treasurer has provided tonight for the first time, a total medium-term cost of the package.

Labor has successfully moved for the legislation to be referred to a Senate Economics Legislation Committee where we will properly explore the distributional and financial impacts of the package with Treasury and key stakeholders and economists.

Labor has also tabled a set of questions on these income tax cuts for Treasury to come prepared to Senate Estimates next week on.