Both parties have claimed that their tax package does a better of job tackling Australia's cost of living crisis.
Now, new figures shared exclusively with the ABC reveal the taxable income you need to earn to receive the biggest percentage return across all three stages if the proposed changes are passed into law."It's certainly more equitable than the alternative," says economist Ben Phillips, from ANU's Centre for Social Research and Methods, which supplied the figures.
He points out that the nature of the tax system makes it difficult to return the same percentage to everyone. Under both plans, the smallest percentage return after the full package of cuts is taken into account will go to those on a taxable income of $21,000. On both plans, they receive a return of 0.4 per cent of their income, or $87 – and all of that was already received during stages 1 and 2.